CEZ will launch a memorandum against the verdict of the Czech Authority for Protecting Economic Competition (APEC)

CEZ Board of Directors, at its meeting held on October 20. 12. 2002, decided to appeal against the verdict of the Czech Authority for Protecting Economic Competition (APEC), concerning the merger of CEZ and distribution companies, and substantiate this by an analysis of the issue.

CEZ launches the memorandum not only because of the numerous formal and legal flaws, but, more importantly, because of the fact that the APEC has not yet declared whether the planned merger between CEZ and the distribution companies constitutes an act of public support, which would mean that the conditions for economic competition outlined in the APEC verdict are inconsistent with the ruling of the CEZ General Assembly held on June 11, 2002, which binds the CEZ management by and which was based on a governmental resolution.

CEZ will deliver its memorandum to APEC through a legal office, on Monday December 23, 2002.

21. 12. 2002