CEZ would appeal Antimonopoly Office decision

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Investiční bankovnictví KB

      Spokesman of CEZ Ladislav Kriz said that the company would almost surely appeal Antimonopoly Office’s decision that enables CEZ to take over four distribution companies. However, company’s management approval is still needed. On the contrary, German E.ON already reacted to the Antimonopoly Office’s decision. It said that it is prepared to ubmit a bid to buy stakes in four distributors.

       CEZ based its arguments against the Antimonopoly Office’s decision on comparison with privatization of Transgas, where German RWE took over all gas sector without any restrictive conditions. CEZ also has political support. Industrial Minister Jiri Rusnok criticized the Antimonopoly Office’s decision. If CEZ appeals the decision, it would lead to delay in the transaction. However, the outlook that CEZ could potentially take over more distributors could have positive impact.

      

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