Irish firm buys Kotva, one of Prague's original dept. stores

An Irish investment and development company, Markland, has bought Kotva - the popular Prague department store built under Communism in 1975. Markland is estimated to have paid more than 67 million US dollars for the store, located in central Prague. Company representatives told journalists on Wednesday that they were confident they could raise consumer interest to pre-1989 levels, when Kotva was Czechoslovakia's most visited shopping centre.

Author: Jan Velinger