The Czech daily Lidove noviny says that CEZ might rise the capital needed to acquire regional power distributors from the state by SPO. A CEZ spokesman said that it is an option, but that CEZ would prefer to finance the acquisition from internal sources and loans/bonds.
CEZ should pay CZK 32 bil. to the state for the distributors, of which a portion will be paid by the transfer of a 66% stake in CEPS, the transmission-grid operator, to the state (we estimate the stake is worth CZK 13 bil.); the rest is to be paid in four equal installments by 2006. The SPO is highly unlikely, we believe.
Jiri Soustruznik