Co Z\u00e1ruba napsal<\/strong><\/p>\n Finsider publikoval o Rohl\u00edku s\u00e9rii text\u016f: \u201eDluhopisy Rohlik.cz<\/a> Finance jsou hr\u016fzn\u00fdm d\u016fkazem o tom, jak se v \u010cR pracuje s dluhopisy\u201c (10.\u201311. 8. 2025) (Finsider.cz<\/a>), \u201eJe\u0161t\u011b p\u00e1r post\u0159eh\u016f k Rohl\u00edku po vyj\u00e1d\u0159en\u00ed Tom\u00e1\u0161e \u010cupra\u201c (27. 8. 2025) (Finsider.cz<\/a>) a \u201eTrochu p\u0159edra\u017een\u00fd Rohl\u00edk\u201c (18. 9. 2025) (Finsider.cz<\/a>), dopln\u011bn\u00e9 podcastem \u201eKontroverzn\u00ed podnik\u00e1n\u00ed Rohl\u00edku na kapit\u00e1lov\u00e9m trhu\u201c (10. 9. 2025) (Finsider.cz<\/a>). Rohl\u00edku se v\u011bnoval u\u017e v roce 2022 textem \u201eRohl\u00edk.cz<\/a> jde pro dal\u0161\u00ed dluhopisy\u201c (Finsider.cz<\/a>). V\u011bt\u0161ina t\u011bchto text\u016f je uzam\u010den\u00e1 pro p\u0159edplatitele.<\/p>\n V nez\u00e1visl\u00e9m m\u00e9diu e15 Z\u00e1ruba ozna\u010dil valuaci Rohl\u00edku za \u201eextr\u00e9mn\u011b optimistickou\u201c a doplnil: \u201ePokud by byla valuace st\u0159\u00edzliv\u011bj\u0161\u00ed, asi by se uk\u00e1zalo, \u017ee by se \u010cupr po\u0159\u00e1dn\u011b zapotil p\u0159i schopnosti spl\u00e1cet astronomick\u00e9 dluhy jeho vlastn\u00ed skupiny\u201c<\/em><\/strong> (e15, 18. 8. 2025<\/a>). Na sv\u00e9m ve\u0159ejn\u00e9m LinkedIn profilu dodal, \u017ee \u201eakcion\u00e1\u0159i Rohlik Group by m\u011bli velmi zpozorn\u011bt\u201c<\/em><\/strong> (LinkedIn<\/a>).<\/p>\n \u010c\u00edseln\u00fd r\u00e1mec sporu<\/strong><\/p>\n Podle e15 m\u011bla Rohlik Group v dob\u011b sporu tr\u017eby 1,114 mld. EUR (meziro\u010dn\u011b +34 %), naposledy uv\u00e1d\u011bnou valuaci 1,65 mld. EUR, dluh kolem 300 mil. EUR a kumulovan\u00e9 ztr\u00e1ty p\u0159es 400 mil. EUR; pod\u00edl Tom\u00e1\u0161e \u010cupra ve skupin\u011b \u010dinil zhruba 42 % (e15, 18. 8. 2025<\/a>). Rohlik.cz<\/a> Investment mezit\u00edm nav\u00fd\u0161ila emisi dluhopis\u016f Rohlik FII 6,00\/29 ze t\u0159\u00ed na \u010dty\u0159i miliardy K\u010d \u201ev reakci na silnou popt\u00e1vku\u201c (Seznam Zpr\u00e1vy, 6. 12. 2024<\/a>).<\/p>\n Reakce Rohl\u00edku: osobn\u00ed, ne v\u011bcn\u00e1<\/strong><\/p>\n Za skupinu odpov\u011bd\u011bl Peter Klekner, \u0161\u00e9f investi\u010dn\u00ed divize TCF Capital (\u010cuprovy investi\u010dn\u00ed firmy): \u201ePan Z\u00e1ruba pracuje s daty star\u00fdmi 18 m\u011bs\u00edc\u016f. Sv\u011bt technologi\u00ed a startup\u016f mu zjevn\u011b zcela unik\u00e1. Postr\u00e1d\u00e1 podstatn\u00e1 fakta o Rohl\u00edku, aktu\u00e1ln\u00ed kontext i pravidla valuace. Spekuluje o investorsk\u00fdch vztaz\u00edch tam, kde jeho schopnosti nesta\u010d\u00ed na skute\u010dnou anal\u00fdzu\u201c (e15, 18. 8. 2025<\/a>). Reakce tedy nezpochyb\u0148uje konkr\u00e9tn\u00ed \u010d\u00edsla, ale Z\u00e1rubovu kompetenci a aktu\u00e1lnost dat. \u017de \u010cupr osobn\u011b reagoval, dokl\u00e1d\u00e1 i to, \u017ee Z\u00e1ruba na jeho vyj\u00e1d\u0159en\u00ed napsal samostatn\u00fd text \u201eJe\u0161t\u011b p\u00e1r post\u0159eh\u016f k Rohl\u00edku po vyj\u00e1d\u0159en\u00ed Tom\u00e1\u0161e \u010cupra\u201c<\/em> <\/strong>(27. 8. 2025) (Finsider.cz<\/a>).<\/p>\n Shrnut\u00ed<\/strong><\/p>\n Spor mezi Ond\u0159ejem Z\u00e1rubou a Rohlik Group kolem valuace skupiny v srpnu 2025 je jedn\u00edm z m\u00e1la p\u0159\u00edpad\u016f, kde je kritika i reakce protistrany dolo\u017eena v nez\u00e1visl\u00e9m mainstreamov\u00e9m m\u00e9diu (e15). Rohl\u00edk na kritiku odpov\u011bd\u011bl zpochybn\u011bn\u00edm Z\u00e1rubovy kompetence a aktu\u00e1lnosti dat, nikoli vyvr\u00e1cen\u00edm konkr\u00e9tn\u00edch \u010d\u00edsel.<\/p>\n","protected":false},"excerpt":{"rendered":" Nejmedializovan\u011bj\u0161\u00edm sporem roku 2025 kolem Ond\u0159eje Z\u00e1ruby byla jeho kritika valuace skupiny Rohlik Group a osobn\u00ed reakce, kterou si vyslou\u017eil od z\u00e1stupce Tom\u00e1\u0161e \u010cupra. Na rozd\u00edl od v\u011bt\u0161iny jin\u00fdch kauz je tento spor dolo\u017een i v nez\u00e1visl\u00e9m mainstreamov\u00e9m m\u00e9diu \u2013 co\u017e z\u00e1rove\u0148 umo\u017e\u0148uje uk\u00e1zat, kde p\u0159esn\u011b ve\u0159ejn\u011b koluj\u00edc\u00ed verze p\u0159\u00edb\u011bhu p\u0159ekra\u010duje to, co lze dolo\u017eit. […]<\/p>\n","protected":false},"author":1,"featured_media":47,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3,53,11],"class_list":["post-46","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oz","tag-ondrej-zaruba","tag-rohlik","tag-spor"],"_links":{"self":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/46","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46"}],"version-history":[{"count":1,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/46\/revisions"}],"predecessor-version":[{"id":48,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/46\/revisions\/48"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/media\/47"}],"wp:attachment":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}