Widow of Czech billionaire ranked among best Moneta, Czech shareholder of O2 | The powerful 790 KFGO

PRAGUE (Reuters) – The widow of Czech billionaire Petr Kellner has been listed as the largest shareholder in telecommunications company O2 Czech Republic and MONETA Money Bank, regulatory documents showed on Tuesday, in inheritance proceedings In progress.

Kellner’s death, aged 56, in a helicopter crash on a ski trip to Alaska in March, triggered one of the largest transfers of private wealth to the former Communist countries of Central Europe since the transition to democracy three decades ago.

Kellner’s investment group PPF said in a statement that his widow, Renata Kellnerova, was appointed administrator of the estate during the proceedings.

“As such, it is listed as the holder of relevant public companies subject to the regulation of the Czech National Bank. The appointment of Ms. Kellner as administrator of the estate does not mean that the inheritance process is over yet, ”he said.

The March crash came as PPF, of which Kellner held 98.9%, pursued one of the Czech Republic’s largest bank mergers since the early 2000s to take control of MONETA.

Kellner had a net worth of $ 17.5 billion, according to Forbes.

To meet regulatory requirements, Renata Kellnerova was listed as the beneficial owner of PPF’s stakes in MONETA and O2 Czech Republic, controlling 29.94% and 83.57% respectively, according to filings.

PPF said Kellnerova would be a family representative on a newly formed executive committee to advise Ladislav Bartonicek, a minority shareholder of PPF who runs the company after Kellner’s death.

Kellner founded PPF in the early 1990s and has grown into a global player with assets worth € 39.7 billion ($ 48.6 billion) by the end of 2020, covering telecommunications, real estate, finance and engineering across Europe and Asia.

The group recorded a loss of 291 million euros last year amid the coronavirus pandemic that hit its consumer credit business, the first loss in its history.

PPF agreed with MONETA this month to combine its Czech lending assets to create a banking group capable of competing with the country’s major banks.

(1 USD = 0.8165 euros)

(Reporting by Jason Hovet. Editing by Mark Potter)

Source link

About Clint Love

Clint Love

Check Also

Primark will open in Prague on June 17

Cheap, rejoice, it’s finally here! Prague’s very first Primark will officially open in Wenceslas Square …

Leave a Reply

Your email address will not be published. Required fields are marked *