CEZ substantially increased its stakes in five majority-held regional istributors after it made a buy-out offer in two, in ZCE and STE, and after it agreed with the German E.ON on a swap of minority held-stakes. After the transaction is completed, CEZ’s stakes will be: ZČE: 98.4 %, STE: 97.7 %, VČE: 91.8 %, SME: 89.4 % (after CEZ exercises an option for its 30.3% stake purchase from E.ON in 2004), and SČE: 56.9 % (after CEZ exercises an option for a 5.9% stake purchase from E.ON in 2004). Positive; expected.
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