Czech PPF buyout of O2 CR shares does not raise stake above 90 pct

PRAGUE, July 1 Tue Jul 1, 2014 11:47am EDT

PRAGUE, July 1 (Reuters) - Czech investment group PPF said on Tuesday a buyout offer to minority shareholders of O2 Czech Republic did not raise its stake above the level which would trigger an additional offer to buy out minority interests.

PPF acquired a 65.9 percent stake in O2 Czech Republic earlier this year and launched a buyout offer at a price of 295.15 crowns per share in May, which expired on Monday.

It said in a news release it would disclose the exact number of shares acquired at a later date after evaluating all acceptance notices.

Under the law, the level requiring an additional buyout offer is 90 percent of a company's stock. (Reporting by Jason Hovet)