Commentary Soros is a bidder

The fate of Eurozet will be decided in Prague not in Warsaw

Czech billionaire Daniel Křetínský will soon decide whether to sell Eurozet which George Soros is interested in taking over. Grzegorz Górny explains why the fate of the Polish media group will be decided in Prague and not Warsaw.

Křetínský, the main shareholder of Czech Invest Media, is known by the Vltava as “King Midas” due to his overtaking of falling entrepreneurships and transforming them into profitable endeavors. He is also engaged in several economic projects. His main areas of expertise are banking, energy, construction, tourism and media.

The businessman is a global player who conducts his interests not only in Europe, but also in the Western hemisphere. He holds the majority of shares in the largest energy company in Central Europe and the largest tourism entrepreneurship in the region. He controls 40 percent of Germany’s coal market. He was the person most responsible for pushing out German capital from the Czech press market by purchasing titles belonging to the Axel Springer group.

Investments in Poland

Křetínský has also been investing in Poland for several years. In 2010 he purchased the decommissioned Silesia mine in Czechowice-Dziedzice. The mine started bringing in profits instead of losses. He also purchased the majority of shares in the Czyrna-Solisko ski resort in Szczyrek. 

The decision to sell Eurozet will be made not by the Vistula, but by the Vltava and it will be made by one person – Daniel Kretinsky.

Last Summer, the owner of Eurozet (Radio Zet, Antyradio, Chillzet), became Czech Media Invest, which purchased it from French Lagardere.

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