08 September 2021

PPF Telecom Group, a PPF Group vehicle used to consolidate investments in telecommunications, has increased its stake in O2 Czech Republic and wants to take the firm private.

The group said in a press release that it had lifted its stake in the group to 90.01%, from 83.58%, in a reverse accelerated book building. PPF has controlled the O2 Czech Republic since 2014.

“As the more than 90% holder in the share capital of O2 CR, PPF announces its intention to initiate a squeeze-out procedure of the remaining holders in O2 CR through a mandatory tender offer for the shares in the telecommunications operator held by these remaining minority shareholders,” PPF said:

Now, with a stake rising above the regulatory 90% level, PPF said it would initiate a squeeze-out procedure of the remaining shareholders in the O2 Czech Republic. It is the country’s fourth-largest company with a market cap of US$3.81bn.

PPF has assets of almost €40bn across Eurasia and has grown its telecom business in central and eastern Europe.

The O2 Czech Republic provides voice, internet, and data services to customers ranging from households to SMEs and large corporations. O2’s internet is available in 99% of the Czech Republic’s inhabited territory, making it the country’s largest internet provider by some distance.