Final Word from Tuesday, August 17, 2004

In a series of articles based on anonymous sources at the top of Český Telecom, Euro has systematically attempted to destroy the reputation of ex-CEO Terrence Valeski of Eurotel. Readers have learned that Valeski wasn't actually a very good manager (because he lost market share) and was vastly overpaid (Kč 50m per year). Valeski brought the criticism on himself by making the huge mistake of speaking publicly about organizing a management buyout of Telecom. The ensuing controlled leaks have apparently had two main purposes: First, to damage Valeski in case he joins with Vodafone or someone else to bid for Telecom. And second, to cripple the remaining members of his expat management team at Eurotel. There's a battle raging over the money flows at Eurotel, and Valeski's legacy is standing in the way of those who want their fair share. privatization


Tel: 420 224 221 580

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic



FS Final Word