CEZ is obliged to make buyout offers to minority shareholders of two recently acquired regional power distributors, VCE and ZCE, since it has crossed the 75% ownership threshold in both. CEZ increased its majority-ownership stakes in ZCE and VCE to 98.4% and 91.8%, respectively, in public buyout offers and stake swap with E.ON in June.
Expected, neutral.
Jiri Soustruznik