Telecom general director sacked following privatisation debacle

27-11-2002

The general director of the country's monopoly telecom operator, Cesky Telecom, has been sacked, following the collapse of plans to privatise the company. General Director Premysl Klima was dismissed at a board meeting on Wednesday. The privatisation of Cesky Telecom, which controls most of the country's fixed lines and also the leading mobile operator Eurotel, was one of the few remaining sell-offs of the post-communist era. However the deal fell through on Tuesday, when potential investor Deutsche Bank failed to meet the share price demanded by TelSource, which holds a 27-percent stake in the company.