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Czech Republic is preparing a new incentive scheme for the video games industry
The Czech Republic will soon join a group of European countries that offer incentives to the video games industry. The video games industry has been one of the fastest growing sectors in the Czech Republic in recent years, and enjoys an excellent reputation worldwide – despite the lack of any kind of state support. However, this will likely soon change with the adoption of an amendment to the Czech Act on Audiovision (the “Amendment”). Some of the most significant new changes introduced by the Amendment are the transformation of the current Czech Film Fund into the Czech Audiovisual Fund (the “Fund”) and the extension of the state incentive system to include the video games industry. According to the Amendment
Kinstellar announces New Office Managing Partners in Bratislava and Prague, Adam Hodoň appointed as COO
Kinstellar is delighted to announce the appointment of new managing partners for our Bratislava and Prague offices, and of a new Chief Operating Officer (COO) effective 1 July 2024. Viliam Myšička is the new Managing Partner of the Bratislava Office, succeeding Adam Hodoň. Adam has been appointed as the Firm’s COO. Viliam has been with Kinstellar since its inception and was previously with Linklaters. He leads the M&A service line in Slovakia and serves as the head of the firm-wide Restructuring & Insolvency service line, as well as the co-head of the firm-wide Technology, Media & Telecommunications (TMT) sector. Viliam brings nearly 20 years of professional experience, advising clients across a wide range
Kinstellar advises ING Bank on a new EUR 150 million senior facility granted to Romanian telecommunications service provider DIGI Romania
Kinstellar, together with Linklaters LLP, has successfully advised ING Bank N.V. on a EUR 150 million senior facility agreement granted to DIGI Romania, the leading Romania-based paid television and telecommunications provider (and part of Dutch-registered Digi Communications N.V.). The term loan has a maturity of three years and will be used for the refinancing of the EUR 450 million senior guaranteed bonds issued by DIGI Romania, which are due in 2025. ING Bank N.V. acted as arranger and original lender, with ING Bank N.V. London Branch acting as facility agent. Kinstellar’s office in Romania has advised on various iterations of this transaction since 2016 and has thus been thoroughly involved in preparing
Major changes in Bulgarian gambling regulation
In a recent legislative update in the Bulgarian Gambling Act, major changes to regulations governing organisers of gambling games and activities and gambling advertisements have been introduced. Most of the amendments enter into force on 18 May 2024. These amendments entail substantial alterations to the activities of gambling organisers, bans on advertisements (including an updated definition of gambling advertisement), and measures affecting service providers connected with the gambling industry and can be divided into the following sample groups: Advertisements ban For example: gambling advertisements on, among others, television, radio, newspapers and online media (including websites) have been totally
Kinstellar advises Dig Ventures on significant investment into mobile app security innovations
Kinstellar's Prague office successfully advised Dig Ventures on a strategic investment into Talsec, a Czech startup specializing in mobile application security, as part of Dig Ventures’ efforts to expand its global presence and support further innovation in its security solutions portfolio. Talsec, which originated as a spin-off from technology company Monet+, has demonstrated substantial organic revenue growth over the past two years. The company develops specialized tools that protect mobile applications from hacking threats, conceal sensitive information, and identify malicious software. Talsec’s solutions are already helping to secure over a thousand apps from various companies, including insurers like Generali
The AI Act is adopted, what to do now?
On March 13th the EU Parliament adopted the AI Act, marking a significant milestone in shaping the region's AI landscape. The Act will be published in the Official Journal of the European Union, and 20 days after publication, the AI Act will enter into force. Although it will take two full years until the grace period passes and almost all provisions will be applicable, AI providers should be aware of the detailed schedule of applicability. In addition, as the AI Act has extraterritorial scope, it does not only concern the 27 Member States of the European Union, but any AI provider worldwide whose AI systems are placed on the market or put into service in the EU. The first deadline expires in six months, as the rules
Google ends geofence warrants
Location data has become an integral part of everyday digital life, providing easier navigation through various digital tools, such as maps. Despite the importance of making navigation easier, the need to preserve data privacy, such as location data, has been cast to the shadows. In light of this misuse of our private data, Google is finally set to implement a ground-breaking update for its widely used mapping service, Google Maps. The update relates to a change in the way Google stores data: instead of on the cloud, data will be stored on users’ devices. The anticipated update aims to prevent authorities from accessing users’ location history data through geofence warrants, which have long been considered controversial
Kinstellar advises banking consortium on Telekom Srbija’s tower deal
Kinstellar’s team in Serbia, together with global law firm Paul Hastings, has successfully advised Deutsche Bank, Alpha Bank, UniCredit, and UniCredit Bank Serbia on a EUR 205 million financing for global investment firm Actis in relation to their acquisition of a carved-out tower portfolio from Telekom Srbija, a leading telecommunications operator in the Central and Eastern European (“CEE”) region. The carved-out portfolio is comprised of approximately 1,800 macro towers across Serbia, Bosnia & Hercegovina, and Montenegro. Kinstellar’s team, led by Petar Kojdić (Partner) and Mina Srećković (Managing Associate), played a pivotal role advising on the financing aspects of this transaction. Our
Recent regulatory developments regarding the use of body cameras in Hungary
The use of body cameras by law enforcement (both police forces and local government) and private security services started almost two decades ago and has been becoming more and more ubiquitous globally. It is of course a challenge in terms of privacy, as it is not only a relatively new technology where the social discourse has not had the time to form a common societal position, but it is also very invasive as in most cases people interacting with the wearer do not have the choice to use or not use the camera system. National and international authorities are just starting to form their opinion and issue guidelines on the use of body cameras, that is why it is notable that the Hungarian data protection authority
The AI Act – EU’s First Artificial Intelligence Regulation
In a ground-breaking move, on 8 December 2023, the European Parliament officially reached a provisional agreement with the Council on the AI act. With this agreement, the European Union has implemented the world's first comprehensive regulation on artificial intelligence, known as the AI Act. This landmark regulation is now in it’s final stage of implementation, as it still needs to be formally adopted by the Parliament and the Council. The AI Act aims to safeguard the well-being and fundamental rights of EU citizens, setting a precedent for global AI governance. In April 2021, the European Commission proposed the first European Union ("EU") regulatory framework for artificial intelligence ("AI"). The main objective
Heads up: Overview of the proposed amendments to Bulgaria's Electronic Communications Act
A draft law amending the Electronic Communications Act was published for public consultation on 15 December 2023. As the Digital Services Act will start to apply for all providers of intermediary services from 17 February 2024, the Proposal aims to provide the national implementing measures – to designate the competent authority to be responsible for the supervision of those providers (the so-called Digital Services Coordinator) and to establish specific procedures for the exercise of its powers. What’s more - the Proposal is used as an instrument to introduce additional measures facilitating the construction of network infrastructure. The Proposal may have escaped the attention of many stakeholders, not only because
Kinstellar, Gen & Temizer | Özer advise Property Finder and Zingat on the sale of 100% of Zingat to hepsiemlak, and on Property Finder’s subsequent share subscription into hepsiemlak
Kinstellar Gen & Temizer | Özer have successfully advised Property Finder and Zingat on the sale of 100% of Zingat to hepsiemlak, and Property Finder’s subsequent share subscription into hepsiemlak. The transaction is expected to close after the approval of the Turkish Competition Authority. Property Finder is the Middle East's largest property portal and was the 100% shareholder of Zingat. Established in 2015, Zingat is one of the largest property portals in Turkey with a wide range of residential and commercial properties listed for rent and sale. Hepsiemlak is one of Turkey's major real estate buying, selling, renting and advertising platforms, under the umbrella of Doğan Holding. The team was