CEZ will appeal Antimonopoly Office decision (18.12.2002)

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Investiční bankovnictví KB

      Company said it will appeal the Antimonopoly Office’s decision, which allowed to take over only four distributors out of eight as originally planned by the Czech government. CEZ points out that the Antimonopoly Office used different approach in case of the gas and electricity sectors. It enabled German RWE Gas to take over whole Czech gas industry last year. Chairman of the Antimonopoly Office Josef Bednat replied that the main difference between the gas and electricity sector is degree of liberalization. If CEZ appeals the decision, Antimonopoly Office can stick to its previous decision within 30 days or conduct new review within three months.

       CEZ plans to replace current generating capacities of 4.500MW in 2010-2015 with new power stations. It has not decided yet, whether it would be coal or gas fired power stations. The investment should reach several tens of billions of crowns. The news is not new and therefore neutral for CEZ.

      

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