Czech utility CEZ is ready to resume talks with Czech Coal over long-term coal supplies or forming a joint venture, should current negotiations with Germany's (127 EUR, 1,03%) and the coal miner fail, CEZ spokesman Ladislav Kriz told (11 EUR, -1,17%) Financial News, confirming earlier reports by Czech weekly Euro.
"We have always said we are still interested in negotiating with Czech Coal," Kriz said.
CEZ and Czech Coal failed to agree in June on future cooperation, prompting the coal miner to begin talks with instead regarding the construction of a 2 bln eur power plant as part of a joint venture.
CEZ filed a lawsuit against Czech Coal on June 29, claiming that it broke an agreement that the long-term contract will be signed and thus jeopardises CEZ's plans to build a new coal-powered 1.3 GW plant in Pocerady, in the north of the Czech Republic.
"We had to file the lawsuit in order not to miss the deadlines given by the agreement with Czech Coal... but we do not oppose to lift it...," Kriz said.
Czech Coal spokesman Radek Stavel rejected to say whether Czech Coal would resume talks with CEZ but a source close to the negotiations told Financial News that no options are closed with regards to CEZ.
"Each of the two (CEZ and E.ON) have different added value (for Czech Coal)," the source said.
Euro reported that E.ON's exclusivity period for talks with Czech Coal will expire by the end of September but Stavel refused to confirm that date.
"We have said we would negotiate with for several months, that's all I can say," he said.
(Thomson Financial)