CEZ and E.ON named highest bidders

Czech company CEZ submitted the best bid for the takeover of Electrica Oltenia, as did the Germans company E.ON in the bid for Electrica Moldova, sources close to the privatisations told Ziarul Financiar. The Romanian State, which is the current owner of the two companies up for sale, instructed bidders to improve their binding offers, which in these cases are not part of the final bids. Unlike with other privatisations in the electricity and natural gas industry, the authorities this time introduced the binding bids as a prior step to the final offers. In this situation, CEZ and E.ON will still be able to improve their binding bids for each of the two electricity distributors, something that could affect the final stage of bidding. ZF