Cesky Telecom general meeting clears merger with mobile unit Eurotel

The Czech fixed-line telephone operator Cesky Telecom, 69.4-percent owned by the Spanish phone giant Telefonica, said Thursday its general meeting had approved a merger with the mobile business Eurotel and the renaming of the combined company as Telefonica 02 Czech Republic. The new company is expected to take shape during the middle of the year with the expected benefits being felt from 2007.