Bell sells branch shops in the Czech Republic
10.04.2017, Ad hoc release pursuant to Art. 53 LR, Switzerland
As part of a management buyout, Bell is selling its Novak branch shops in the Czech Republic to the current managing director. The retail business in the Czech Republic did not belong to the Bell Group's strategic business areas. The organisational conditions have been established to secure all jobs and the continuation of the company. Some 630 employees in 87 branch shops generated a net revenue of CHF 35 million in 2016. The parties have agreed to keep the details of the management buyout confidential. The transaction will be executed retroactively on 31 March 2017.