Czech billionaire Kellner’s PPF considers IPO for telecom unit CETIN

PRAGUE: Czech billionaire Petr Kellner’s PPF group is considering an initial public offering (IPO) for its telecommunications network group CETIN among other options, a spokeswoman said on Tuesday.

The spokeswoman commented after Bloomberg news agency reported PPF had picked banks to explore a potential listing. An IPO could value CETIN at about 4 billion euros ($4.9 billion), the report said.

“We can confirm PPF is considering an IPO as one of the options for CETIN,” the PPF spokeswoman said in a statement, adding it was still too early to comment on any process.