Yesterday CEZ announced it would offer a buyout for minority shareholders in Skoda Praha. CEZ owns 69% of the company. Of the remaining 31% stake, the National Property Fund owns 24.3%. CEZ is still waiting for Security Commission approval hence the buyout price is not known. The offer is expected to be published by the end of January 2005. Assuming the price is around the current market price of CZK180, the total cost for CEZ would be about CZK 0.11 per CEZ share.
Emilia Zampieri, Patria Finance