PRAGUE, Czech Republic—The Czech government launched a second round of a tender to acquire a majority stake in state-owned Cesky Telecom after receiving bids below its minimum-set price. The government wanted a 45-percent premium over the current market value, and bids for the 51-percent stake were only 5 percent to 10 percent above the current value.
The government asked two bidders—a group that included Deutsche Bank, Danish operator TDC and investment company BlackStone Group along with a consortium including CVC Capital, Swisscom and Spectrum Equity Partners—to submit higher bids by 26 April.
The government has said it is in no hurry to privatize Cesky, which owns 51 percent of the country’s largest mobile operator EuroTel Praha.
