Czech Energy Billionaire Kretinsky Diagnosed With Coronavirus

(Bloomberg) --

Daniel Kretinsky, the owner of a $7.8 billion Czech energy conglomerate EPH, said he tested positive for coronavirus on March 12 and has been self-isolating himself since then.

Kretinsky told newspapers E15 and Blesk, which both belong to his media unit, that he is running his businesses remotely and spends 12 hours a day on the phone. He said he’d developed none of the symptoms, like fever or coughing, and only had a light cold.

The billionaire said energy companies are hit by the global pandemic but the blow isn’t “fatal.” Media businesses, especially the print segment, are in a more complicated position because of lack of advertising revenue, Kretinsky said, adding he’ll continue to diversify outside the energy sector.

“The energy industry is key for us but opportunities for attractive growth are limited there, “Kretinsky said. The group may look for assets in the U.S., which would be rational but difficult, he added.

Kretinsky turned EPH from a small Czech utility into one of the biggest power companies in central Europe in about a decade of debt-fueled acquisition spree. The group had revenue of 7 billion euros in 2018 and valued its assets in the Czech Republic, Slovakia, Germany, Italy, the U.K., Hungary and Poland at about 13.3 billion euros ($14.7 billion).

The billionaire’s media investments include stakes in French newspaper Le Monde and German entertainment company ProSiebenSat.1 Media SE as well as several Czech news publications.

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