Business, finance, investment and politics in the emerging market of the Czech Republic from an Austrian, Central, Eastern European perspective
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Austria and the Czech Republic Gross-Border Relations

Atrium Sells 10 Objects in Czech Republic for EUR 102.6 Million

Atrium European Real Estate Limited has sold 10 retail property objects in Czech Republic. The inventory value of the sold real estate is EUR 102.6 million (USD 115.6 million), which means it is 8 percent over the accounting value from June 20, 2015 the company announced in a statement.

39 minutes ago

Novomatic: Czech Investor May Seek Settlement Over Casinos Austria Takeover

Gambling group Novomatic and a Czech consortium (Austrian Gaming Holding), who compete in the race for a majority stake in state-run casinos operator Casinos Austria, may seek a settlement over the issue, Novomatic CEO Harald Neumann said at the international gambling fair ICE in London.

February 4, 2016

Novomatic Wants Casinos Majority

Austria's competition watchdog BWB ordered an indepth investigation of the planned takeover of majority stake in staterun casinos operator Casinos Austria by gambling group Novomatic citing competition concerns as well as legal doubts, BWB said on Wednesday evening. The decision takes into account, among others, the legal dispute between Novomatic and another party interested in Casinos takeover, a Czech consortium, BWB explained.

February 4, 2016

Competition Regulator to Decide on Casinos Takeover by Novomatic on Wednesday

Austria's competition regulator BWB will decide on Wednesday on the planned majority takeover of state-owned casinos operator Casinos Austria by gambling group Novomatic. Options include issuing a green light for the deal or else ordering a deepened investigation by cartel court.

February 2, 2016

Hauliers Warn Against Schengen Border Close Down

If controls were to be resumed at Austria’s borders fully, the transport sector would incur a loss of up to EUR 8.5 million per day. The transport industry is already struggling due to new challenges as a result of the refugee crisis: at the borders to Hungary and Bulgaria, lorries have to queue for up to seven hours, Alexander Klacska, head of the transport division of the Business Chamber of Austria, told APA. The delay is not included in prices under existing contracts.

January 27, 2016

SkyToll Vying for Czech Toll System Currently Run by Kapsch

The Slovakian toll system operator SkyToll has extended an offer to the Czech Traffic Ministry to operate the lorry toll system of Czech Republic as of 2017, once the ten-year contract with Kapsch TrafficCom expires at the end of 2016.

January 25, 2016

Erste Group Makes Profit on Austrian Retail Operations

Listed bank Erste Group makes a profit on its retail operations in Austria, retail banking director Peter Bosek told journalists.

January 22, 2016

Czechs Jirí Šmejc and Karel Komárek Want to Take Control of Casinos Austria

The Czech consortium Austrian Gaming Holding (AGH) of billionaires Jirí Šmejc and Karel Komárek, headquartered in Prague may soon be new majority owner of Casinos Austria AG. According to the Federal Competition Authority (BWB), Austrian Gaming Holding intends to increase one hand its stake in Medial to 88.89 percent and on the other hand to acquire 16.79 percent of Casinos Austria AG shares. Through these acquisitions, AGH will hold directly or indirectly 50.82 percent of the shares and thus acquire sole control of the CASAG.

January 21, 2016

OMV Sells 68 Petrol Stations to Czech Republic's Benzina

Czech media reported on the deal already in October last year, now the transaction is certain: OMV will sell 68 of its petrol stations in Czech Republic to the petrol station chain Benzina, which belongs to the Unipetrol concern, which in turn belongs to Polish PKN Orlen. The parties agreed to not disclose the purchase price OMV informed on Wednesday.

January 20, 2016

Central and Eastern Europe's Financial Elite Gathered at the CEE Forum in Vienna

The 21st Euromoney Central and Eastern European Forum ended in Vienna today, where 1000 delegates from the region joined local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead. The vast majority of the delegates have a negative outlook for the year 2016. Only one of the participants expects that this year CEE will grow more than 3.5%.

January 20, 2016