Czech state prepares major state owned companies for sale – report

The Czech government is preparing the remaining major state-owned companies for privatization but may keep a controlling stake in some of them, the weekly Euro reported today.

The Czech post office services provider Ceska Posta will likely be divided into several units, some of which will be up for grabs in a privatization, while others will remain under state control, the weekly said, without citing sources.

Prague airport, Letiste Praha, whose value is estimated at 100 bln crowns, may be split between the Prague municipality, which will acquire a 34 pct stake, and the finance ministry, which will keep the rest.

However, the 66 pct stake should later be sold as the Czech transportation ministry may require half of the proceeds for the state fund of transportation infrastructure, Euro reports, citing unnamed sources.

Brewery Budejovicky Budvar may offer its shares in an initial public offering, after it is transformed into a joint stock company, according to the minister of agriculture Petr Gandalovic.

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