...share buy-back, the business daily Hospodarske Noviny reported on Friday.
It quoted unspecified sources as saying the ceiling would be announced at a shareholders' meeting on April 23, where CEZ will ask for approval of an up to 10 percent share buy-back.
CEZ shares closed at 912 crowns on Thursday.
A CEZ spokesman could not be reached for comment.
The buy-back is due to be conducted simultaneously with the sale of a seven percent state stake in CEZ approved by the government on Monday.
"Such price is high compared to current share price ... This could mean CEZ intends to aggressively support the share price on the market during the sale of state's 7 percent," Ceska Sporitelna analyst Jakub Zidon said in a client note.
CEZ, central Europe's biggest power company with a market capitalisation of $25 billion, has been mulling a buy-back to put to use its extra cash.
The government holds 67.6 percent in CEZ. The sale of seven percent on the capital market and the buy-back would keep the state share in the firm above two-thirds.
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