PRAGUE (Dow Jones)--Czech power company CEZ AS (BAACEZ.PR) may buy a 7% stake in Hungarian gas and oil company MOL Nyrt. (MOL.BU), down from earlier plans to buy up to 10%, newspaper Hospodarske Noviny reports Tuesday.
Under the new deal, MOL will buy back this stake from CEZ by guaranteeing an 8% yield to CEZ, the newspaper says.
The deal should be announced at a CEZ conference on acquisitions Thursday.
CEZ and MOL are also working to create a joint-venture company to build and operate gas-fired power plants in Hungary and Slovakia.