Prime Minister Milos Zeman said during a press conference yesterday that an unofficial bid for CEZ now amounts to CZK 260 bil. Assuming that out of that CZK 60 bil. is for the stakes in regional distributors, this implies CZK 505 per CEZ share. Nevertheless, we believe the PM’s comments have little relevance for judging CEZ value and do not represent a turning point related to CEZ privatization.
(Jiri Soustruznik)