Czech government to meet on CEZ sale -CTK agency

...CEZ , central Europe's largest company, the CTK news agency reported.

The government has approved a plan to sell the stake on the stock market but the Finance Ministry, conducting the process, has refused to reveal any information about the way it will be handled.

CTK said the meeting was due to start at 6 p.m. (1600 GMT), according to an unnamed government member.

A government spokesman declined to confirm the meeting would take place, saying the government office would issue a statement if there is one. A Finance Ministry spokesman also declined to comment.

The government is looking to raise money to fund road building through the sale of the minority stake.

The state now holds 68 percent of the company with a market capitalisation of $30.5 billion.

CEZ has started an up to 10 percent share buyback programme, which means that the government's stake would not shrink after the sale of its stake.

CEZ traded 0.5 percent up at 1,082 crowns at 1128 GMT on Monday, near its all-time high of 1,095 seen last week.

[PRAGUE/Reuters/Finance.cz]