Michal Kubala

Czech power utility CEZ AS outlined a plan to split its assets, a move that could pave the way for the government to obtain full ownership of its electricity production in a long-planned buyout.

Shares of CSG NV steadied after the Czech arms maker rejected a short-seller’s report that questioned its ammunition production capacity, saying the claim was based on a flawed understanding of its manufacturing model.

AC Sparta Prague, majority controlled by billionaire Daniel Kretinsky, narrowed the gap with its bitter cross-city rival atop the Czech football league following a ruling on their weekend match that turned violent and dominated headlines in the country.

Czech billionaire Michal Strnad said investors are undervaluing his company, CSG NV, after its share price halved since he completed the largest-ever initial public offering for a pure-play defense firm.

Czech billionaire Michal Strnad, the richest person in the European Union’s east, is starting an investment firm with potential firepower of €10 billion ($11.7 billion) to target acquisitions in Europe and the US.

The founder of CSG NV, which completed the biggest ever initial public offering for a pure defense company four months ago, is seeking to raise as much as €200 million ($233 million) this year to expand his industrial group.

President Petr Pavel chided the government for halting financial support for a Czech-led multinational ammunition program for Ukraine, saying the move weakened other allies’ willingness to contribute, Seznamzpravy.cz reported.

Czech billionaire Daniel Kretinsky said he’s open to increasing his holding in TotalEnergies SE, after gaining a stake in the French oil major last month.

'Given that we currently own a stake of less than 5 percent, if we felt the need to further diversify, we could continue increasing our stake in Total'.

Shareholders approved a proposal to split up the assets of the Czech Republic’s dominant power utility, a step toward a government plan to buy out minority investors and gain full control over the company’s power production.