Two giants kiss and make up

The first clue that ČSOB and PPF were going to end their legal disputes came when ads for ČSOB began appearing regularly in Euro magazine, owned by PPF. Until then, there had been a negative article about ČSOB in nearly every issue. No more. The two sides clearly realized that it's best to move their disputes out of the public eye. There's a feeling among some ČSSD politicians that the CR's financial groups have become too powerful - and too arrogant - and need to be knocked down a peg. Even Finance Minister Bohuslav Sobotka, long considered a ČSOB ally, has publicly turned on the bank. With lots of money at stake - and statutes of limitation on some past actions still left to expire - a peaceful settlement between ČSOB and PPF was better than a war of attrition. Especially if, as Právo said today, the cost of the settlement could be transferred to taxpayers.