Unicredit’s Czech and Slovak unit has reportedly bought a close to 6% stake in O2 Czech Republic from investors whose shares were not accepted under controlling shareholder PPF’s recent buyout offer.
The acquisition makes Unicredit O2’s…
Unicredit’s Czech and Slovak unit has reportedly bought a close to 6% stake in O2 Czech Republic from investors whose shares were not accepted under controlling shareholder PPF’s recent buyout offer.
The acquisition makes Unicredit O2’s second-largest shareholder after PPF, Reuters reported, citing a filing.
A Unicredit spokesman said the bank bought 17.48 million shares in total, which equates to a 5.86% stake in the operator. However he declined to comment on its reasons for doing so or plans for the investment.
PPF, owned by Czech businessman Petr Kellner, closed its Kc63.6bn (US$3.32bn) acquisition of a 65.9% stake in O2 from Spain’s Telefonica in January.
In July, it bought an additional 7.2% stake in the Prague-based operator following a mandatory tender offer, boosting its stake to 73.1%.
Last week, O2 confirmed that it is analysing options to separate its fixed-line infrastructure into a new entity to supply wholesale services.
