Telefonica proud owner of Cesky Telecom

Telefonica's acquisition of the majority stake in the Czech Republic's biggest fixed line operator, Cesky Telecom, is final. The Spanish telecommunications company won the privatisation tender with the highest bid - 82.6 billion crowns (a little over 3.5 billion US dollars). On Wednesday, it paid the National Property Fund a remaining 90 percent of the purchase price and is now the owner of the state's 51.1 percent stake in Cesky Telecom, which also owns the country's leading mobile operator Eurotel.