Czech Republic: Double auction

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Selling a bank in eastern Europe has so far been a pretty mundane affair. First clean up the bank’s bad debts, then sell it to a foreign investor for an inflated price. In the past, this has worked well, especially with western banks practically falling over themselves to get a foothold in the region. But now the Czechs have come up with a novel way to sell their second largest banking group, Ceska Sporitelna.

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