CEZ picks Patria, Wood&Co for share buyback

30.04.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, April 30 (Reuters) - Czech power firm CEZ has selected leading Czech brokers Patria Finance and Wood & Company to run the planned...

...buyback of up to 10 percent of its shares, CEZ said in a statement.

CEZ shareholders approved the buyback at a general meeting last week as a way to improve capital structure.

CEZ can buy the shares in a wide range of 300-2,000 crowns for the next 18 months. The stock closed at 997.1 crowns on Friday.

The buyback will be simultaneous with a planned government plan to sell a 7 percent stake in the firm on the capital market.

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