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Czech O2's spin-off business contributes half of group profit

April 17, 2015 4:41 PM
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PRAGUE (Reuters) - O2 Czech Republic's extensive telecoms infrastructure assets that are to be spun off into a separate company contribute about 50 percent of the group's operating profit, O2 said on Friday.

The spin-off, designed to revive O2 Czech's fortunes, will create a new firm, called CETIN, which will not be publicly traded. What remains of Czech O2 will continue as a publicly-listed operator, providing voice and data services as well as television.

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