Final Word from Tuesday, March 28, 2006
Two of the main experts commenting on the lost arbitration case with Nomura are Pavel Kohout of PPF and Pavel Páral of Euro, and both have been decidedly pro-Nomura. Kohout is an adviser to Vlastimil Tlustý of ODS and is also reportedly a candidate for a seat on the Czech National Bank board, so his stance is understandable. Páral works for a magazine owned by PPF, so the logical question is whether his anti-ČSOB stance is a reflection of relations between PPF and ČSOB. Both PPF and ČSOB said, though, that their IPB-related disputes are being worked out, as agreed last year. Why, then, is Páral trying to place so much of the blame for the arbitration defeat on ČSOB? The most likely explanation for his behavior, it seems, is that Nomura is still very interested in reaching an out-of-court settlement with the CR and is using Páral to put pressure on ČSOB to sign off on a deal. [Czech Republic Václav Klaus]