According to Bloomberg, CEZ placed a bid for Polish coal mine Silesia. Kompania Weglowa SA, the current owner wants at least EUR 30.2m for the company and plans to announce the terms of the sale on September 27, Puls said.
There are around 100m/t of coal in Silesia. Polish market still remains the main target for CEZ foreign expansion. On the other hand according to information earlier this year current owner reportedly requires that new owner will be exporting coal abroad and not to compete with Kompania Weglowa on Polish market, which we see negatively as the transport of coal makes it in general expensive. We will wait for further information and the outcome of the tender process. Currently we see the news as neutral.