According to CTK, the Poland may cancel the sale of Dolna Odra power plant to Endesa due to E.ON’s EUR29.1 bid for Endesa. Note that CEZ was also interested in the tender for Dolna Odra, a group of three coal power plants with total installed capacity of 1,740 MW, nevertheless was not short-listed. The short-listed companies included apart from Endesa also E.ON and Electrable. Therefore, we do not expect CEZ to have any significant chance to step back should the sale to Endesa by cancelled. We see the news as neutral for today’s trading. We reiterate our Buy recommendation.