PRAGUE (Dow Jones)--The Czech government has yet to make a final decision about whether it will seek additional revenues from a selldown of its stake in power company CEZ AS (BAACEZ.PR), the country's prime minister said in a newspaper interview published Friday.
"Now the discussion is if we will sell only to the level of necessary revenues or to the maximum-approved percentage of shares," Mirek Topolanek said, adding no final decision has been made. To date the Czech government has sold 1.8% of CEZ shares.
Early last year the government approved a plan to sell up to but not more than 7% of its then 68%-stake in CEZ to raise 31 billion koruna ($1.74 billion) to fund highway construction. The plan set out a minimum selling price of CZK950 a share.
"The operation has gone brilliantly, and today the shares are being sold for CZK1,400," Topolanek said.
Analysts have said if the government sells less than 7% it will help the CEZ share price, but if the government seeks to sell the full 7% it will create an overhang on the market and hurt the share price.