Final Word from Thursday, June 1, 2006
The ČSSD-led government didn't get around to finishing several juicy deals, including the sale of Setuza debt, the multibillion-crown biofuel subsidies, the Aero privatization and the payout to depositors of three failed banks. These four have PPF as the common denominator. More allegations than usual are flying around about Petr Kellner's empire. We're able to read insinuations that PPF launched the Jansta scandal to put pressure on Farm Minister Jan Mládek about Setuza; that past ODS ministers - including PPF's Ivan Kočárník - made the light-heating-oil thievery possible; that Jiří Paroubek helped PPF buy PMB bank for a song; that PPF is paying off MPs to give it a Kč 1.75bn handout for Kreditní banka; and that PPF Investments is circumventing disclosure rules. Some of this dirt is no doubt inspired by competitors. But for a company working on its image, there are still too many open questions about its behavior on the market. [Czech Republic První městská banka Parliament Miroslav Jansta ŠOB Agriculture]