CEZ may buy the 16% state's stake held in the company

CEZ will hold a GM on January 21. The agenda includes change in the company’s constitution relating to the undergoing restructuring as well as the management option plans and sponsorships. According to Industry Minister Milan Urban the GM may also decide about the sale of a 16% stake the government owns in the company back to CEZ itself (the government owns a total of 67% of CEZ). Urban added that the proposal originated at CEZ but the company declined to comment. Nevertheless, the Industry Minister said that he has not made a definite decision. Note that there has been disagreement in the Cabinet about selling the 16% stake. The Industry Ministry was against the sale while the FinMin favoured it. Source CTK

The Industry Minister also said that CEZ should have a significant stake in Severoceske doly (SD), the largest domestic coalmines, to ensure fair coal prices in the future. The Cabinet should prepare a privatization proposal for SD in a month. Source: Pravo

The anti-monopoly office will look at electricity price increases for 2005 based on complaints that CEZ is abusing its monopoly position. CEZ has increased the average wholesale price by 11%. Source MF Dnes