Czech FinMin sticks to CEZ sale, may lower offer

26.10.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, Oct 26 (Reuters) - Czech Finance Minister Vlastimil Tlusty said on Thursday the government will stick to a plan to sell a small stake in utility CEZ <CEZPsp.PR>, but may shorten the planned share offer if extra revenue for the budget is found elsewhere.

The Czech 2007 draft budget, which counts on up to 31 billion crowns ($1.39 billion) in funds from the CEZ stake sale, passed the first parliamentary reading earlier on Thursday.

But the opposition Social Democrats have steadfastly opposed any CEZ share sale and gave their support for the draft only for the first reading. The budget still has two more readings to go, though the first reading locked in the deficit at 91.3 billion crowns ($4.05 billion). ((Reporting by Jan Korselt; Writing by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=22.38 Czech Crown)

Keywords: ECONOMY CZECH BUDGET CEZ

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