Press: Czech Republic to pay millions to Volkswagen in lost dispute

The Czech government will pay the German carmaker Volkswagen 301 million crowns after losing a dispute with the firm over settling debts following the privatization of Škoda Auto, the daily Lidové noviny reported on Monday. Volkswagen acquired Škoda in 1991 but claimed then Czech government siphoned off hundreds of millions of crowns. Earlier this year, the Czech government lost an international arbitration in the case as well as a court case heard by an Austrian court. Finance Minister Andrej Babiš had released the funds, and said he would determine who was responsible in the case, the daily said.