Thread by @JirousFilip

1/ Czech corporation PPF and its planned media acquisition in CEE has been under scrutiny by Czech media, politicians and now even US senator @rubio. In the meanwhile, the company’s subdivision in China has been increasing its Party work.

THREAD

sinopsis.cz/zakladni-organ…

2/ PPF has attracted a lot of attention in the recent months for its role in a covert PR campaign aiming to boost CCP’s image in CZ uncovered by @lukasvalasek from @Aktualnecz

zpravy.aktualne.cz/domaci/home-cr…

3/ PPF also announced planned acquisition of a major CEE media group CME. The transaction prompted Pirate Party Senator @WagenknechtLuk and MP @JanLipavsky to write a letter to US Congress asking for a review as CME’s minority owner is AT&T.

pirati.cz/tiskove-zpravy…

4/ US Senator @rubio has now asked CFIUS to investigate the transaction citing national interests.

PPF’s main argument is that it does not engage in politics. This is in contrast with its engagement with Czech politicians through the PR campaign

rubio.senate.gov/public/index.c…

5/ and also its increased Party building activities in its subdivision Home Credit China going beyond mere compliance with the Chinese law.

In recent years, China has mobilised, upgraded and politicised its Party organisations in foreign companies operating in China.

6/ Some, e.g. German entities, have resisted this change, but Home Credit does not seem to mind. Analysis by Professor Lomová shows that in January Home Credit announced establishing its Party organisation in a hyper-modern corporate building in Tianjin.

7/ The announcement included the organisation’s leadership declaration of adherence to the “original ideas” (初心) of the Communist movement in China. In total, Home Credit has 6 party organisations with 211 members.

8/ The organisations seem very active and responsive to current Party initiatives. This is especially puzzling considering the company’s main business field - commercial loans.

9/ Home Credit has also been under fire for its practice in lending in China and even state media have called Home Credit practices “loan-sharking” 高利贷.

Translations of these articles by @sinopsiscz earned us legal threats from Home Credit.

sinopsis.cz/trampoty-ceske…

10/ Similar threats of SLAPP suits also delivered to the Czech public radio. Not a sign of respect for Freedom of Expression from a company buying a media empire in CEE.

denikn.cz/267375/home-cr…