Following to yesterday news that 7 economic ministers (including PM) agreed to propose to sell 7% state stake in CEZ, the Cabined should vote on this on Monday, 19 March. The material that will be discussed allows sale in the range of 1% to 15%, however the recommendation is for 7% as the government seeks to get CZK 31bn.
Our view: As economic ministers including PM agreed on 7% stake, which will be placed on the market, we don’t expect different outcome from Monday government meeting. Range of 1% to 15% percent is rather formal based on possible changes in shareholder structure and their rights.