On Friday CEZ held a general meeting. As expected, shareholders (a 68% stake is held by the state) approved that the company may buy back 10% of its own shares in the next 18 months within the range of CZK 100 – 600 per share. The step would, however, be subject to approval by the Cabinet, and CEZ’s Board and Supervisory Board. The company said that it may either sell the shares on capital markets or reduce its equity to optimize its capital structure. CEZ is also aware of the fact that it has to treat all shareholders equally.