As expected CEZ announced that it has completed the transfer of shares in its distribution companies SCE (5.92%) and SME (30.28%) from E.ON based on an option-based agreement signed between CEZ and E.ON back in July 2003 as of October 27. As a result CEZ now owns 89.38% in SME and 56.93% in SCE.
Separately, Slovak Economy Minister, Pavol Rusko, said that the speed of negotiations with Enel regarding the privatization of Slovenske elektrarny (SE) increased substantially after he threatened to cancel the talks and/or start negotiating with CEZ or even cancel the tender all together on Tuesday. Nevertheless, Rusko added that the negotiations would have to be extended but the question is for how long and whether with Enel or Enel only. Rusko is expected to inform the Slovak government on the progress on Wednesday (3/11).
Source: CTK
Tomáš Gatěk, Patria Finance