Today is the deadline for submitting improved bids for the two Romanian distributors (Electrica Oltenia and Electrica Moldova) according to the CEZ spokesman. CEZ and E.ON were the only two companies to submit a final bid by the October 18 deadline. Based on the limited information available, we would be comfortable with a combined bid by CEZ not significantly exceeding EUR 100m (specifically, EUR 40m for E. Moldova and EUR 60m for E. Oltenia). Neutral until size of the new bid is known.
Source: Reuters, CTK
Tomáš Gatěk, Patria Finance