The Czech business mogul Daniel Křetínský made international headlines one month ago by buying more than 15 million shares to gain a 5 percent share in the American retail chain Macy’s. Now he’s made a pile of money, more than one billion koruna, by selling those shares as the stock market recovers from its lowest point in year. As of the end of trading on Tuesday evening, Křetínský’s firm Vesa Equity Investment (which he owns with Patrik Tkáč) held just over 2 million shares in the failing company, which has over 900 shops around the country. “The reason for the sales certainly isn’t a lack of faith in the future of hte company or in the skills of its management,” said Vesa’s spokesman Daniel Častvaj. “We’ll continue to monitor Macy’s and the retail market in the United States carefully and we can’t rule out a return as shareholders in the company.” Among other things, Křetínský is a co-owner in the Sparta Praha football club.
