Final Word from Monday, September 3, 2018

Chair Chang Zhenming of Citic Group said at a media briefing last week that the price to be paid for CEFC's Czech assets hasn't yet been finalized and that "there is still a long way to go." Perhaps this will put an end for now to the false reports in the Czech media about how the deal is done. Citic is no doubt trying to pay as little as possible for CEFC's hodgepodge of assets while bringing to fruition its "effort to stabilize market expectations relative to Chinese investment in Europe." Into this steps ex-PM Bohuslav Sobotka, who visited China in mid-Aug. According to LN, Sobotka presented himself there as an adviser to BTL, a "leading global producer of medical equipment." A little digging around in the Czech commercial registry shows that this "leading global producer" is 100% owned by ex-Federal MP Jan Vild, who is close to certain people in ČSSD. The special purpose vehicle called CEFC might be all but dead, but ČSSD a.s. is still up to its old tricks in China. [ Czech Republic Chinese Lidové noviny ]

Glossary of difficult words

Crazy Rich Asians - the name of a recent film;

suitor - a man who pursues a relationship with a particular woman, with a view to marriage; a prospective buyer of a business or corporation;

hodgepodge - a confused mixture;

fruition - the realization or fulfillment of a plan or project;

special purpose vehicle/entity - a subsidiary company with an asset/liability structure and legal status that makes its obligations secure, even if the parent company goes bankrupt.

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