UPDATE 1-Czech CEZ denies setting buyback price limit

...

PRAGUE, March 23 (Reuters) - Czech power utility CEZ said on Friday it has not set any limit price for a planned share buy-back.

The business daily Hospodarske Noviny reported CEZ was planning to set a maximum price of 1,200 crowns ($217.2) per share.

"We have no such thing. The proposal is not ready yet," spokesman Ladislav Kriz said.

CEZ, central Europe's biggest power company with a market capitalisation of $25 billion, will propose buying back up to 10 percent of its shares at a shareholders' meeting on April 23.

CEZ shares traded 1.7 percent up at 927.5 at 1330 GMT on Friday, beating the slightly firmer wider market.

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.

The government holds 67.6 percent in CEZ. The sale of seven percent and the buy-back would keep the state share in the firm above two-thirds.