Czech CEZ in talks to buy Mostecka coal miner-paper

05.12.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Czech power company CEZ is in talks to buy coal miner Mostecka Uhelna, daily Mlada fronta Dnes said on Wednesday....

...

The paper quoted unnamed sources as saying CEZ, the biggest central European company with market capitalisation of $44 billion, was offering 28 billion crowns ($1.57 billion) for the firm.

Mostecka, owned by several Czech individuals, is a key supplier to CEZ's lignite-burning power stations in north-western Czech Republic.

The two firms have been locked in disputes over long-term coal delivery contracts.

A CEZ spokesman said the company was in unspecified negotiations with Mostecka but did not confirm it was in takeover talks. (Reporting by Jan Lopatka; Editing by Quentin Bryar)

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($1=17.83 Czech Crown)

Keywords: CZECH CEZ/

[PRAGUE/Reuters/Finance.cz]

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