Transparency International: doubts persist over Babiš’s conflict-of-interest plan

There are still doubts surrounding the conflict-of-interest solution presented by incoming prime minister Andrej Babiš (ANO), the Czech branch of Transparency International (TI) warned this week. The organisation said Babiš should clarify, among other things, whether the trust structure he has announced will be set up in the Czech Republic or abroad, and what legal form it will take. TI also cautioned that the arrangement could affect the Czech Republic’s ability to draw EU funds.

Babiš said in a video posted on social media on Thursday evening that he had decided to give up ownership of Agrofert. According to him, the company’s shares will be managed by an independent trustee through a trust structure, overseen by an independent protector. He said his children would inherit Agrofert only after his death.

TI highlighted that publishing more information about the proposed solution would help avoid speculation about the trust’s legal basis. The public should also be told whether the structure will cover all Babiš-owned companies, who the impartial trustees will be, and whether the arrangement is truly irreversible, the organisation added.