Czech PPF group eyes Zentiva stake sale -paper

18.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Czech financial group PPF is looking to sell its 13 percent stake in drug maker Zentiva , worth nearly $340 million at the current share price,...

...on the capital market, a newspaper reported on Friday.

The business daily Hospodarske Noviny, quoting two unnamed sources as saying the group intended to sell the shares.

Press officials at PPF Group had no immediate comment on the report.

Zentiva closed at 1,409 crowns on Thursday.

"Zentiva is off 5 percent since the start of the month, and we think the worries about overhang will have the stock under renewed pressure," said Bram Buring, an analyst at Wood & Company.

France's Sanofi-Aventis is Zentiva's largest shareholder with a 24.9 percent stake.

[PRAGUE/Reuters/Finance.cz]

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