Merger of ČEZ and regional distribution companies
The Chairman of the Office Josef Bednář in fact confirmed in the main points of the verdict the first-instance decision of the antimonopoly office of 10 December 2002. The party to the proceeding is obliged to divest its shares representing 34% of the basic assets of the company ČEPS. Furthermore, the company ČEZ is obliged to divest all its shares in the companies Pražská energetika, Jihočeská energetika and Jihomoravská energetika, which it is to acquire through this concentration. The third condition sets obligation to divest shares in one of the regional electricity distribution companies to be acquired by the company ČEZ on the basis of this concentration.
The Chairman of the Office in the appellate proceeding satisfied some of the objections raised by the company ČEZ. The deadlines for fulfilling the individual conditions set by the decision have been prolonged. The divestiture of shares to be made by ČEZ will not be subject to previous approval by the antimonopoly office. The second-instance decision, furthermore, does not set to whom the share in the basic assets of the company ČEPS is to be sold. The Chairman Bednář thus partially satisfied the objections raised by the company ČEZ. Nevertheless, the factual substance of the first-instance decision of the Office was not changed. The proceeding was demanding, the Office paid from the very beginning a great attention in particular to impacts on the final consumer and also to the impact on businesses and at the same time looked for a solution enabling creation of a strong entity able to compete also in the European market.
Press and Information Department
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