Final Cabinet decision on Cesky Telecom privatisation expected after Friday's no-confidence vote

In related news, the Cabinet is expected to decide on how to continue with the privatisation of Cesky Telecom — that is by tender or through a flotation of shares — following the results of the no-confidence vote in prime minister Stanislav Gross on Friday. The government's privatisation commission was meeting on Wednesday to discuss bids, which include telecommunication companies Swisscom, Belgacom, Spain's Telefonica and a grouping of Blackstone, CVC, Provident partnered with France Telecom. Media reports suggest binding bids went as high as 73 billion crowns (over $3 billion).