The Finance Ministry intends to propose that 16.6% of the state’s stake in CEZ be sold on capital markets by the end of 2003, with the other 51% the state owns to be privatized before the end of the government’s term in 2006 (source: MFDnes). The ministry expects the two sales to fetch CZK 94 bil.
The Industry Minister is likely to oppose the sale of the 51% stake, however. The sale of the 16.6% stake is likely, we believe.
Separately, CEZ advertised today that a CZK 4.5 per-share dividend will be paid on August 1; the record date was June 17.
Jiri Soustuznik