PPF sells 30% stake in Cetin to Singapore’s GIC

PRAGUE: Czech investment group PPF agreed to sell a 30% stake in telecommunications infrastructure group CETIN to Singapore’s GIC investment fund, PPF said on Monday.

CETIN operates in the Czech Republic, Bulgaria, Hungary and Serbia. PPF had said earlier this year it was studying options for the group, including a potential initial public offering or direct sale to a minority investor.