CEZ CEO Jaroslav Míl said that CEZ needs to be privatized prior to liberalization or else privatization proceeds will be significantly lower. He finds the prospect of privatizing CEZ by year-end 2001 realistic. As for Temelin, the CEO said that the first block will be commercially launched “in summer” rather than in May (this delay is generally expected). He also suggested that CEZ could make a debt-for-equity swap with respect to Skoda Praha, the general contractor in the Temelin project (CEZ already holds a minority stake in Skoda Praha). This is news, but is unlikely to affect the stock today.