CP&P

Euro ran a picture on its cover on June 7 of a hormone-charged Radek John and called the VV chairman and future interior minister "Mr. Problem." In a commentary, Euro Editor-in-chief István Lékó suggested that VV is only in it for the money, takes revenge on those who cross it and might attack companies publicly as a way to extort something from them. All in all, it was very enlightening stuff. Soon thereafter, Lékó was unceremoniously sacked, effective later this year. According to insiders, Euro's owner, PPF, said it needs VV too much. Lo and behold, John announced yesterday that ČSOB's lucrative contract with Česká pošta should be renegotiated. This is very bad news for a company planning an IPO, and it plays right into the hands of PPF and its purported plan to work its way into the Post Office and then privatize it. You must admit, Česká pošta a pojišťovna has a rather nice ring to it. [Czech Republic ČP&P Věci veřejné]