CEZ: The state’s plans for swap of its stake in Prazska energetika for a stake in CEZ postponed
The proposal to swap the state’s 14.19% stake in Prazska energetika (PRE); a Prague distribution company, for a 0.51% stake in CEZ with J&T; a local financial institution, which holds 34% in PRE as the Ministry of Finance and Trade&Industry have some doubts regarding the swap. In an interview to Bloomberg, the Trade and Industry Minister, Milan Urban, said that he maintains the opinion that CEZ should be allow to strengthen its position on the domestic market.
Our view:
We would view the swap as rather neutral, given the fact that PRE has a private company for several years. The state’s stake in CEZ would thus increase to 68.122%.