Chinese investors CEFC free to buy high-end Prague hotel

The Chinese company CEFC is free to purchase Prague’s high-end Mandarin Oriental hotel after the deal was approved by the Office for the Protection of Competition. The news was announced by a spokesperson for the anti-trust agency on Wednesday. The Chinese firm will buy the Malá Strana property through its company Karmelitská Hotel and says it aims to capitalise on the rapid rise in the number of tourists between the two countries. CEFC has already made substantial investments in the Czech Republic, buying Slavia Prague football club, the Lobkowicz brewery and a large chunk of air carrier Travel Service.