According to CTK, Bulgaria plans to sell 100% stake in its biggest heating plant in Sofia. Toplofikatsia Sofia delivers heat to approximately 90% of 1.2m Sofia citizens. The tender has been postponed for some time as previous plans were to launch it in 2007. CEZ is among the interested parties.
Our view: As this privatization tender is in the early stage we see it neutral, however looking on the possible synergies and fact that CEZ is already present on the Bulgarian market with its Varna power plant or three distribution companies we see it strategically justified.