The Czech MFDnes newspaper reports today that CEZ has filed criminal complaints against its ex-CEO S. Svoboda and ex-BoD-chairman T. Dvorak, who are suspected of signing an unfavorable contract with Vivendi and Vivendi Telecomunication related to CEZTel, a CEZ telecoms subsidiary. A complaint was also filed against J. Ehrlich, a former CEO of CEZTel, for an acquisition he authorized. This is unlikely to affect the stock today, but raises doubt about the quality of corporate governance in CEZ in the past. On the other hand, it is positive that the current management is taking such measures.
(Ondřej Daťka)