The Czech Republic’s PPF Group was facing a problem: as a financial services group run by the richest, and possibly the most secretive, man in the country, Petr Kellner, it has traditionally had no need to attract investors; but while one of its core businesses – consumer finance – is a highly profitable operation, it also needs financing on a level that requires it to deal more widely and openly with the market.
This has led the group to a reassessment of its position and to a gradual opening up to outsiders, be they ratings analysts, investors or the media.
The PPF Group is the country’s largest private financial group, with assets of more than Kc200 billion ($8.2 billion). It manages property in excess of Kc200 billion and owns a 14% stake in Central European Media Enterprises, which is the majority shareholder in Czech TV...
