CEZ succeeded in privatization of Bulgarian distributors (16.7.2004)

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Investiční bankovnictví KB

      Bulgarian Energy Ministry surprisingly announced winners of privatization of electricity distribution companies already on Thursday. In line with expectations, CEZ will get distribution companies in Western Bulgaria. German E.ON will get distributors in North Eastern part and Austrian EVN in South Eastern part of Bulgaria.

       The news is in line with the market expectations, although the decision was expected on 19 July. Deputy minister of industry Vaclav Srba said that regular dividends could reach the lower-end of range CZK 4.50-9.00/share if CEZ is successful in another acquisitions. The above-mentioned range was presented by CEZ’s CEO Martin Roman last month. CEZ is taking part in privatizations in Slovakia and Romania. It is also monitoring planned sales in Poland, Hungaria, Croatia, Macedonia, Bosnia and Hercegovina, Moldavia, Ukraine and Serbia.

       The statement of the deputy industrial minister could have negative impact particularly on the short-term investors, as it cuts chances of payment of extraordinary dividend the market is speculating on.

      Tyto zprávy pro vás vytváří Investiční bankovnictví KB.