Final Word from Monday, May 21, 2018

If someone conducted a hostile takeover of your financial empire, would you remain as quiet as a church mouse? Probably not, but that's what Shanghai Huaxin Group (Hongkong) Limited is doing. It's still listed as the sole shareholder of CEFC Group (Europe) Company a.s., yet it hasn't objected publicly to the legal transfer of all its voting rights in the Czech company to J&T Private Investments B.V. Sure, ex-Vice Chair Jaroslav Tvrdík of CEFC Europe has caused a royal stink, but he wasn't anything more than a hired hand at CEFC Europe, at least officially. Why is he the one still speaking for the rightful shareholders? Especially after claiming on March 9 that CEFC Europe had boosted its capital by Kč 13.5bn? The parent company, Shanghai Huaxin Group, allegedly sent the money to CEFC Europe, but CEFC Europe doesn't seem to have it. Where is it, Mr. Tvrdík? Why hasn't the parent Hong Kong company filed a criminal complaint? Now that J&T has taken over the voting rights to CEFC Europe, it needs to clear this up. If "Jarda is lying," as Patrik Tkáč of J&T stated, when did the lies begin? [Czech Republic Hong Kong China]

Glossary of difficult words

to cause a stink - to cause a fuss or commotion;

royal - complete, utter, thorough;

hired hand - a person hired to do a job; a manager, as opposed to an owner.


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