Broker that will act on behalf of CEZ in order to buy back 10% share will be announced on 17 May, same day as company releaseses its 1Q07 figures.
Our view:
Even though the buyback program has already been approved by AGM, the proces will not start sooner than a month period, when we can expect some share overhang as state could be tempted to place more share on the market and speed up the sale of its 7% stake in CEZ.