According to CIA news agency, general meeting in RiTe Gacko (Bosnia) rejected the proposal from some minority shareholders to cancel the contract of cooperation with CEZ.
Our view:
We see the news as neutral as we were expecting positive outcome from the general meeting. Now we assume that the construction of current power plant Gacko I. and building new power plant Gacko II. should continue according to timeline of the project. Around 2013 the new facility should be concluded and 2-3 years later the complex refurbishment of existing facility is expected to be finished.