PPF Telco B.V. made an offer to acquire the remaining 9.99% stake in O2 Czech Republic a.s. (SEP:TELEC) for CZK 8.1 billion on June 23, 2021.Under the terms of transaction, PPF Telco B.V. will acquire shares at CZK 270 per share. Prior to the transaction, PPF Telco and other persons from the PPF Group acting in agreement will hold a total of 90.01% stake in O2 Czech Republic. PPF aims to delist the shares of O2 Czech Republic from the Prague bourse. PPF Telco has received the Czech National Bank's approval for initiating a procedure to buy out O2 minority shareholders. PPF Telco B.V. will ask O2 to convene the relevant general meeting to approve the squeeze-out process. O2 shareholders approved at a general meeting held per rollam on January 3-26. The buyout price per O2 CR
share has been approved by the Czech National Bank (reasonable consideration) and is set at CZK 270. The entire minority shareholders squeeze-out process should be completed by approximately mid-2022. PPF Group announces that O2 Czech Republic shares will be withdrawn from trade on the Prague Stock Exchange at the end of February, 2022, and consideration will be paid by the end of April, 2022.