Český Telecom, the Czech Republic’s biggest telecommunications service provider, has entered an agreement to lease the Gamma Building, which has become the BB Centrum’s flagship building. Český Telecom’s subsidiary Eurotel already uses the BB Centrum’s A and D buildings. This is indisputably one of the most significant rental agreements in the Czech Republic.

The Gamma Building is situated in close proximity of an arterial road (5. května Street) and has been under construction since January 2005. Since its completion in 2006 it has offered over 30 000 m² of office space and its enormous underground car park has enough space for over 500 automobiles. Gamma will certainly rank among the country’s most impressive modern administrative buildings. With its ten above-ground and three underground storeys it will create the BB Centrum’s hitherto missing southern corner. The project’s developer, Passerinvest Group, a.s., has been co-operating with well-established partners. The head architect is Ing. Arch. Jan Aulík and Studio A, the financer is HVB Bank and the building’s general contractor is PSJ Holding.

“We have been contemplating moving the company’s headquarters, which will allow for the full physical integration of employees in one area during the ongoing process of consolidating Český Telecom and Eurotel, for a long time now. Apart from having our own building constructed, the BB Centrum was one of the alternatives we considered. Together with our subsidiary company Eurotel’s experience with the BB Centrum buildings, professional and constructive negotiations with Passerinvest Group palyed significant role to our decision to select the BB Centrum Gamma building. We are happy to relocate Český Telecom’s headquarters to the BB Centrum campus, where several other companies with prominent names are situated,” says Juraj Šedivý, Český Telecom’s Chief Financial Officer.

“We tried to prepare an attractive offer for Český Telecom. Of course the rent was adjusted in accordance with the magnitude of the agreement and the duration of the lease. We are certain that both parties will be satisfied,” added Passerinvest Group’s Chairman of the Board, Radim Passer.

About ČESKÝ TELECOM
ČESKÝ TELECOM, a. s., a member of the Telefónica Group, is the leading telecommunications company in the Czech Republic. Through its subsidiary company Eurotel Praha, spol. s r.o., it also has a significant presence in the Czech mobile services market. ČESKÝ TELECOM especially devotes itself to making use of the growing potential of data and Internet services.
ČESKÝ TELECOM ranks among the most prominent firms on the Czech capital market in terms of capitalization and trading volumes. Its shares are also traded on the London Stock Exchange in the form of GDRs. ČESKÝ TELECOM's credit rating is the highest a Czech corporation can receive from top international rating agencies. Telefónica is the majority shareholder of ČESKÝ TELECOM, a.s.

About Telefónica
Telefónica is one of the world’s largest telecommunications firms in terms of market capitalisation. Its focuses its business activities primarily on the fixed and mobile telephony markets with broadband as a key tool for the development of both of these.
To a considerable extent the company operates in 19 states and its customer base exceeds 180 million subscribers worldwide. Telefónica has a strong presence in Latin America, where it focuses a substantial part of its growth strategy.
Telefónica is a 100% listed company, with more than 1.5 million direct shareholders. Its share capital currently comprises 4 921 130 397 ordinary shares traded on the Spanish Stock Market (Madrid, Barcelona, Bilbao and Valencia) and on those in London, Paris, Frankfurt, Tokyo, New York, Lima, Buenos Aires and São Paulo.

Passerinvest Group
Passerinvest Group is a Czech development company that has been active on the Czech market for fifteen years. It was established by Radim Passer in 1991 and since then it has gained a wealth of experience with the construction of residential, administrative and commercial buildings and complexes. Since the latter half of the 1990s the company’s name has been connected primarily with the multipurpose BB Centrum project in Prague 4, Michle, which is indisputably one of the largest and most successful development projects in the Czech Republic. This achievement placed Passerinvest Group among the leading companies on the Czech real estate market and brought it a sound international reputation.

BB Centrum
BB Centrum is the largest administrative complex in the Czech Republic. It currently consists of 8 buildings that offer a total of 100 000 m² of office space that is complemented by shops, services residential units and restaurants. To date over 6 000 people work in this complex. Upon the project’s completion, the BB Centrum should comprise 15 buildings with over 300 000 m² of rentable space. Passerinvest Group’s goal is to build a high-quality and pleasant working environment for over 15 000 people.