PRAGUE Feb 7 Czech PPF Group of Petr Kellner
has sold 3 percent in fixed and mobile operator O2 Czech
Republic to investor Pavel Tykac, the two sides said on Tuesday.
O2 said the sale was aimed to support liquidity and free
float, which rises to 17.4 percent excluding treasury shares.
"In this regard, the price agreed for this transaction does
not reflect the fair value of O2 shares as perceived by PPF
Group," PPF said.
O2 has 8.74 percent weight in the MSCI Czech Republic index
Jan Chudomel, a spokesman for Tykac, said the stock was sold
at market price. The stock closed up 0.23 percent on Tuesday at
266.7 crowns, which would value the transaction at 2.48 billion
crowns ($98.20 million).
He said the offer was a good opportunity to enter the stock
given its 8 percent dividend yield and the company's stable
The company said last month it would propose a dividend of
17 crowns per share from 2016 net profit, up from 16 crowns a
share the previous year, on top of 4 crown share premium.
PPF will hold 81.1 percent equity stake after the
transaction. It said it did not plan to sell further shares for
the time being.
($1 = 25.2540 Czech crowns)
(Reporting by Jan Lopatka)