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May 17th, 2008
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May 7th, 2008 | Current Issue

Drowning in jalopies
Overwhelmed by used-car imports, gov't seeks restrictions

PPF pursues Zentiva shares
Equity group may need to boost offer to lure shareholders

Uran stumbles in wooing towns
Australian firm repeatedly seeks exploration permits

Automakers decry police tender
Critics voice suspicions of tailor-made requirements for new fleet of cruisers

Slovakia set to adopt common currency next year
Czech adoption plans stalled while neighbor anticipates approval

Microsoft intensifies anti-piracy measures
Clock ticking for crackdown on illegal copies of Vista

Biz Events
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10 Questions
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Valert named director
Movers & Shakers

BRIEFS


IPO New World Resources raised 35.26 billion Kč ($2.18 billion) in its initial public offering (IPO) on the Prague, London and Warsaw stock exchanges, the company reported May 6. The IPO is the largest in Czech history and the largest on the London exchange this year. New World Resources controls the Czech Republic’s largest black coal miner, OKD, and plans to use funds from the IPO to expand into Poland.

ENERGY The head of the Czech Academy of Sciences, Václav Pačes, said he feels political pressure put on the independent energy commission he is leading for the government, Hospodářské noviny (HN) reported May 5. The commission has been tasked with recommending a course of action for the country’s energy future. The Green Party’s representative said there is pressure to expand coal-mining limits and support nuclear power.
TREASURY The Finance Ministry has announced a revamped tender worth 2.5 billion Kč for its IT project modernizing the state’s treasury system, Lidové noviny reported April 5. The first tender was canceled after companies criticized a requirement that the system work with software from Germany’s SAP, which was also a bidder. The new tender will be decided solely on price and speed of implementation, the ministry said.
BUYBACK The state-controlled energy utility ČEZ has completed its stock buyback program, the company announced May 2. Over the past year, the utility bought 9.8 percent of its shares on the Prague bourse, close to the highest amount allowed under the law. ČEZ is expected to cancel nearly all of these shares. A second round of buybacks may be possible afterward, it added.
PROCESSING The Slovak-Czech investment firm Penta has purchased 49 percent of the Hungarian meat processor Debreceni Hús, HN reported May 2. The price was not disclosed and the deal still needs to be approved by regulatory offices. Penta already owns two similar companies in Slovakia and reportedly plans to merge six or seven such meat processors into one company.
NOVA The private television broadcaster TV Nova launched its video-heavy news and entertainment site TN.cz May 5. The broadcaster said it wants the site to become one of the top three Czech Internet destinations within the year and has invested 100 million Kč in the project.
SNACKS Germany’s Intersnack, the maker of Bohemia Chips, has acquired two local snack food companies, Mladá fronta Dnes reported May 5. The companies, Canto and Perri Crisps & Snacks, should boost Intersnack’s sales in the country to 2 billion Kč this year, up from 1.5 billion Kč. Intersnack entered the Czech market in 1992. The price of the deal was not disclosed.
AIRPORT Prior to the privatization sale of Prague’s Ruzyně Airport, the city plans to acquire a 34 percent stake in the joint-stock company, E15 reported April 30. Giving a stake to the city, which Prague Mayor Pavel Bém has been pushing for, is a part of the government’s plan, the Transportation Ministry confirmed. The regional government of Central Bohemia would also like a share of the airport, the paper added.
 

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