Minister of Finance Miroslav Kalousek commented for HN daily selling stake in CEZ and his task to sell 7% stake, but may happen this to change any time. He would publicly inform about any changes immediately.
Our view:
We see news regarding government sale as slightly negative as Mr. Kalousek only reiterated that no change in selling 7% stake has occurred for the moment. Government so far sold 1.19% stake or 7,047,309 shares, which resulted in decreasing its stake in CEZ from 67.61% to 66.42%. CEZ so far acquired 7.13% of own shares since the share buyback started, which together with 0.6% shares already owned before allows CEZ to acquire additional 2.27%, which suggest that share buyback will continue some 45 additional trading days, based on daily average number of acquired shares.