RPT-CEZ says sees 6-7 bln euros for acquisitions

(Repeats story published late on Monday)

PRAGUE, Oct 23 (Reuters) - Czech power company CEZ <CEZPsp.PR> plans to invest cashflow it generates over the next few years in acquisitions, the company said on Monday.

The company said in a prospectus ahead of a share listing in Warsaw that it wanted to continue acquisitions in central and southeastern Europe.

"CEZ is prepared to allocate all free cash flow generated until 2009 for acquisitions," the company said in a prospectus ahead of listing of its shares on the Warsaw bourse.

"The total amount of the internal cash flow, including potential re-leveraging, is estimated at 6-7 billion euros."

CEZ expects to be listed on the Warsaw bourse by the end of October.

The power company is the biggest listed firm in central Europe with a market capitalisation of $22.2 billion.

It has been growing through acquisitions, mainly in the Balkans where it has bought power stations and distribution assets in Bulgaria and Romania.

It has bought power stations in Poland, is in talks to buy distribution assets in the Ukraine, is negotiating details of an agreement on a joint venture in Serbia and is looking at brownfield and greenfield opportunities in Kosovo.

The firm's share price has been rising thanks to the expansion plans and rising electricity prices.

The stock has gained 40 percent over the past year, beating the PX <.PX> index which rose 16 percent.

The stock closed at 847 crowns on Monday, up 0.8 percent on the day but below the all-time high of 873 crowns which it attained in February. ((Reporting by Jan Lopatka, editing by Greg Mahlich; prague.newsroom@reuters.com; Reuters Messaging: jan.lopatka.reuters.com@reuters.net; tel 420-224 190 474))

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Keywords: UTILITIES CZECH CEZ