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Investors buy into Czech O2 after drop in shares-newspaper
June 8, 2015 / 6:17 AM / 2 years ago

Investors buy into Czech O2 after drop in shares-newspaper

PRAGUE, June 8 (Reuters) - Pavel Tykac, the owner of mining group Czech Coal, has taken a 2 percent stake in telecoms company O2 Czech Republic by investing around 1 billion crowns ($40.55 million), newspaper Hospodarske Noviny reported on Monday, citing an unnamed source.

Another investment group, Arca Capital, has also invested 350 million crowns to get a 0.6 percent stake, the paper said, quoting co-owner Pavol Krupa.

The value of shares had dropped in recent weeks as the company prepared to spin off its infrastructure business, a move that forced many funds to exit the stock. ($1 = 24.6600 Czech crowns) (Reporting by Jason Hovet, editing by Louise Heavens)

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