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January 26, 2018 www.intellinews.com I Page 3
ing ban in restaurants that played to Zeman’s strengths. Afterwards most pundits gave the veteran politician Zeman the edge, though Drahos was seen to have increased in confidence as the debate went on and landed some blows.
In the debate, Drahos, 68, looked nervous but was able to catch Zeman out a few times when he made unfounded assertions. The president, who is 73 and in very poor health, was condescending and aggressive, but was unable to land a knock- out blow. At the end of the debate, there was a stark contrast between Drahos – whose campaign videos show him jogging and cross-country skiing – and the ailing president, who could hardly get out of this chair.
In the Czech TV debate on January 25 Drahos was much more aggressive, while Zeman was con- tent to appear calm and reasonable and act the
M&A in Emerging Europe fell 17%
in 2017 to €71.5bn
There was a 6.4% increase in the number of deals in 2017 to 2,113 but deal value fell because there were fewer megadeals, with only one transaction reaching €2bn compared to eight in 2016: the €7.5bn acquisition of a 14% stake in Rosneft by China’s CEFC.
That single transaction dominated China’s €7.7bn M&A in the region, which was 78% up on 2016’s figure, but slightly down on that record year in the number of transactions. Excluding Russia, almost half the Chinese deals in 2017 were in Poland.
US companies were the busiest foreign investors with 99 deals, with the value almost doubling to €2.96bn. UK dealmaking fell 58% to €2.19bn,
statesman. For a lot of the debate Zeman was on the defensive, particularly over his advisers and his financial backers, but he remained measured and patient, leaving Drahos often looking peevish.
In front of a small audience in the darkened echoing foyer of the Rudolfinum concert hall, Zeman played again on his experience compared to Drahos'. “It is quite courageous to aspire for the highest post in the country and know nothing about politics,” he said.
Neither TV debate was decisive and the election result could therefore go either way. Both candidates missed an opportunity to seize the advantage: Zeman failed to demonstrate Drahos' lack of qualifications for the presidential role, while Drahos did not offer an inspiring vision of a different kind of president.
which the report put down to Brexit and the fall in the value of the pound.
Within the region, dealmaking in Russia rose
by nearly 5% to 671 in volume but fell by 15% to €36.7bn in value, though it was still just over half the region’s total. Of the region’s 20 largest deals, 12 were in Russia and eight involved Russian buyers, which all bought into other Russian-based companies, demonstrating Russian business’ narrowed focus amid international sanctions
and a struggling home market. Overall, Russian companies made 603 acquisitions worth €22.5bn in Emerging Europe, 31% of the region’s total.
In Poland, the second most active market, the number of deals rose by 3% to 288, with the value falling by 5% to €10.6bn. Polish investors made 166 deals in the region worth €4.3bn, up 12%. The country remained the standout for initial public offerings, with eight issues, the highest since 2013, totalling almost €1.8bn.
The report says more big deals are in the pipeline