The Cabinet may approve conditions for Unipetrol privatization advisor tender at its meeting today. The Cabinet usually holds a press conference early in the evening.
Separately, a local Euro weekly reports today that a consortium of Norex of Canada and BAGS of Germany has indeed offered CZK 10 bil. for the government’s stake in Unipetrol (implying CZK 87 per share if the offer is meant for the entire 63% stake, or CZK 92 if the offer is meant for just a 60% stake). This figure has been reported before and should not have much impact on the stock today. We continue to recommend buying Unipetrol.