The Hungarian State Privatization Agency said last week that it might sell shares in the state-owned electricity wholesaler and grid operator MVM to the public. No details were disclosed on the timing of the sale, though. The listing might be of certain importance for CEZ, the dominant Czech power company, as there is currently no other liquid utility stock traded on CE3 markets. Firstly, CEZ could be benchmarked against MVM as far as operational, financial and valuation measures are concerned, and secondly, some investors might choose to diversify CEZ stock with MVM. Nevertheless, there are no specific conclusions to be drawn from the information at this stage.
Jiří Soustružník