Final Word from Thursday, October 6, 2016

If we look through Andrej Babiš's eyes at the CR as a company, what do we see? It's not vertically integrated, the way Babiš would like it to be, but is more like a holding company with infighting among the units. Bohuslav Sobotka, as PM, is the frontman for the majority shareholder, otherwise known as ČSSD a.s. He takes his instructions from the proxy holder at a Prague law firm. If Josef Bernard wins the governorship in Pilsen, Škoda Transportation will come out of the shadows and officially join the regional board. Andrej Babiš of Agrofert a.s., meanwhile, is trying for a hostile takeover orchestrated through the regions, similar to how he swiped Agrofert from Petrimex. Foreign Minister Lubomír Zaorálek of ČSSD said yesterday on Twitter that Václav Havel would stand today on the front line in the fight against those trying to run the country like a company. Perhaps so, but Zaorálek's own political party would be on the other side of the barricade, battling not only Babiš for control, but also Havel. [Czech Republic finance minister]

Glossary of difficult words

vertically integrated - a corporate arrangement in which the supply chain of a company is owned by that same company;

infighting - fighting or disagreement among the members of a group or organization;

frontman - a person who represents an organization and works to make its image more appealing to the public;

proxy holder - a person authorized to act on behalf of someone else; agent;

to swipe - to take from someone; to steal.

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