Prague Transport Rejects Bigboard’s Shareholder Change Request
- Prague — The proposed change in the shareholder structure of Bigboard is facing hurdles, primarily due to concerns raised by the Prague Transport Company (DPP) and the Office...
- the Prague Transport Company's consent is required for any alteration to Bigboard's shareholder structure.
- Beyond a lack of prior experience, the DPP has also cited BB Global's association with the J&T Group, some parts of which are reportedly controlled by billionaire Dušan...
Table of Contents
- BB Global’s Shareholder Structure Change Faces Scrutiny
- BB Global’s Shareholder Structure: Key Questions Answered
- What is the Issue with BB Global’s Shareholder Structure?
- Why is the Prague Transport Company (DPP) Objecting?
- What Role Does the Office for the Protection of Competition (ÚOHS) Play?
- What is the J&T Group’s Reaction to the ÚOHS Intervention?
- How Does the Proposed Change affect Bigboard?
- What are the Key Players and Their Positions?
Prague — The proposed change in the shareholder structure of Bigboard is facing hurdles, primarily due to concerns raised by the Prague Transport Company (DPP) and the Office for the Protection of Competition (ÚOHS).
DPP’s Concerns
the Prague Transport Company’s consent is required for any alteration to Bigboard’s shareholder structure. According to Dan Šabík, head of the DPP’s communication department, this requirement is anchored in contracts concluded with each long-term tenant of advertising space for DPP assets.
Beyond a lack of prior experience, the DPP has also cited BB Global’s association with the J&T Group, some parts of which are reportedly controlled by billionaire Dušan Palcr, as a reason for withholding consent.
The DPP suggests that publicly available details indicates potential involvement of these individuals in the Motol corruption case.The transport company’s compliance department has identified this as a business risk, according to internal communications.
Bigboard’s Response
When asked about future plans, Bigboard spokeswoman Pavlína Stránská stated that this issue is fully in the competence of BB Global.
ÚOHS Intervention
the Office for the Protection of Competition (ÚOHS) has also weighed in, with spokesman Martin Švanda announcing that the agency has forbidden BB Global from exercising shareholder rights in Bigboard. This action followed BB Global’s acquisition of a controlling share in Bigboard last December.
The Office is currently verifying whether it has been submitted to him in connection with the proposal for authorizing the connection of BB Global and Bigboard Prague. The acquirer has therefore been temporarily prohibited from temporarily prohibiting the exercise of shareholder rights in Bigboard,
Švanda said.
J&T Group’s Reaction
The ÚOHS is reportedly examining the relationship between J&T and BB Global, specifically whether Palcr exerts control over any of the companies within the group.
J&T spokesperson Monika Veselá stated,We are surprised by the Decision of the OPC. We are currently considering subsequent steps.
This article addresses crucial questions surrounding the proposed changes to BB Global’s shareholder structure. The details is based on the provided source material.
The proposed alterations to BB Global’s shareholder structure are facing scrutiny, primarily from two key entities: the Prague Transport Company (DPP) and the Office for the Protection of Competition (ÚOHS). These organizations have raised concerns, perhaps creating hurdles for the proposed changes.
Why is the Prague Transport Company (DPP) Objecting?
The DPP’s primary concern stems from their need to consent to any changes in Bigboard’s shareholder structure, which is stipulated in contracts with long-term tenants of advertising space on DPP assets. The DPP has raised the following:
Contractual Obligations: The DPP’s consent is required due to existing contracts.
Association with the J&T Group: The DPP is concerned about BB Global’s association with the J&T Group,particularly regarding individuals reportedly linked to the group.
* Potential Business Risk: The DPP’s compliance department has identified the situation as a business risk, citing publicly available details suggesting possible involvement in the Motol corruption case.
What Role Does the Office for the Protection of Competition (ÚOHS) Play?
The ÚOHS has taken action by prohibiting BB Global from exercising shareholder rights in Bigboard following BB global’s acquisition of a controlling share last December. The agency is currently investigating whether the acquisition was authorized.
What is the J&T Group’s Reaction to the ÚOHS Intervention?
The ÚOHS is reportedly examining the relationship between the J&T Group and BB Global, specifically investigating if Dušan Palcr exerts control over any companies within the group. The J&T Group has expressed surprise at the ÚOHS’s decision, indicating they are assessing their next steps.
How Does the Proposed Change affect Bigboard?
Bigboard is directly impacted by the situation. The ÚOHS’s prohibition on BB Global’s shareholder rights restricts the company’s ability to influence bigboard’s operations. The DPP’s objections adds another layer of complexity to the changes.
What are the Key Players and Their Positions?
Here’s a summary of the main entities involved and their respective stances:
| Entity | position/Concern |
| ————————————- | ———————————————————————————————————– |
| BB Global | the entity proposing the shareholder structure changes. |
| Prague Transport Company (DPP) | Requires consent for changes; expresses concerns related to contracts, the J&T Group, and potential risks. |
| Office for the Protection of Competition (ÚOHS) | Has forbidden BB Global from exercising shareholder rights and is investigating the acquisition. |
| J&T Group | Under scrutiny due to its association with BB Global; expresses surprise at the ÚOHS’s decision. |
| Bigboard | Impacted by the situation, with its operations potentially affected by restrictions on BB Global. |