PPF Group’s reaction to US Senator Marco Rubio’s letter to Treasury Secretary Steve Mnuchin and Attorney General William Barr, issued on 26th February 2020
We understand Senator Rubio’s interest in the matter. Unfortunately, in his letter, it would seem that he is relying on false information provided by Czech politician Pavel Fischer. In Senator Rubio’s letter, basic information is incorrect: for example, it is not true that CME operates on markets covering 90 million people; in reality, the number is less than half. It is also not true that PPF is propagating Huawei’s technology; the truth is that we inherited this technology as part of our acquisition of the Norwegian telco operator Telenor two years ago.
Over the course of 30 years, PPF Group has grown to become one of the largest Czech companies, and today it operates in 24 countries across three continents. PPF’s shareholders and its top management have always espoused the principles of freedom, liberal democracy, and a free market. The fact that we, like thousands of other Western companies, also operate in China, does not in any way imply a contradictory worldview. Far from it; as people who have lived a considerable part of their lives under totalitarian communism, we deeply value freedom of expression. We therefore reiterate that PPF is buying CME as a complement to its telecommunications business, without any ulterior motives. As part of the process of acquiring CME, PPF Group is cooperating with all the relevant regulatory bodies, and we are providing them with all necessary information. PPF Group will contact Senator Rubio to provide him with accurate information about our company.