Government to sell 7 percent of power company CEZ shares

The Czech government has decided to sell a seven-percent share of the power company CEZ on the capital market. According to Finance Minister Miroslav Kalousek, at the current price of the stock the sale could bring 36 billion crowns (1.7 billion USD) to the state coffers which the government plans to use for the repairs and construction of roads. The government holds a 67.6-percent stake at CEZ.