According to Financial, Pavel Tykac, the owner of a 49% stake in Mostecka Uhelna (MUS) is willing to sell its stake to power group, however he first needs to see officially what CEZ offers and under what conditions to judge the deal appropriately. CEZ will probably make a more detailed offer next week, Financial informed.
Besides, according to CTK, head of Antimonopoly office Martin Pecina sees possible acquisition of MUS by CEZ as “not simple”, which could harm Czech energy market. Should the deal go through Antimonopoly office will put special attention on long-term contracts in MUS portfolio in order not to threaten other customers. Besides, he sees that due to large turnovers of both companies, the deal could be subject also to approval of European Commission.
We see possibility that Pavel Tykac will sell its stake as probable, given fact that he acquired his 49% stake CZK 9.8bn some 12 months ago. In connection to the stance of Antimonopoly office, it is big question mark in the deal but Martin Pecina is considered by most of the insiders as a liberal with regard to M&A as he didn’t turned down any acquisition so far and ordered only to follow some conditions which should secure market equilibrium.