During the period, O2 Czech Republic (LSE:O2CZ) contributed positively to performance. The telecommunication services company finalized the spin- off of its infrastructure assets into a new entity in early June and its share price moved higher in the third quarter as its majority owner, PPF, continued its buyout of the company. In August, PPF disclosed that it owned nearly 85% of O2 Czech Republic and confirmed that it would not attempt to raise its stake above 90%.
From Brandes Emerging Markets Value Fund 3rd quarter commentary.
