CEZ CEO M. Roman said that the privatization of Slovenske elektrarne, the dominant Slovak power producer, is impossible without substantial state guarantees for SE's liabilities. He said that the value of liabilities greatly exceeds the value of assets and specifically mentioned the following issues:
* a deficit in nuclear reserve generation of tens of billions SKK (EUR billions)
* SE's debt of SKK 60bn (EUR 1.5bn)
* other hidden costs of tens of billions SKK
Mr. Roman nevertheless reiterated that CEZ remains interested in SE, subject to privatization conditions and guarantees.
Source: Czech Press Agency
Jan Hájek, Patria Finance