The Romanian government approved a plan to sell part of Electrica Muntenia Sud, which serves the capital Bucharest and is the biggest power distributor in the country. The state is selling a 50% stake with the obligation for the tender winner to increase the capital to boost its stake to 67.5%. The government plans to choose a strategic buyer by the end of this year and to complete the sale by March 2006. CEZ earlier said it would be interested in participating in the tender. Note that CEZ has already bought a distribution company in Romania.
Today CEZ stock goes ex-dividend. The proposed dividend stands at CZK 9/share, compared to CZK 8 paid last year. CEZ is holding its AGM on June 20. The record date for the AGM and dividend rights is June 14. Settlement in the stock will be suspended from 15 to 20 of June.