CEZ Appeals Antitrust Ban on Sale of Assets in Bulgaria to Inercom

CEZ Appeals Antitrust Ban on Sale of Assets in Bulgaria to Inercom

Czech energy group CEZ told SeeNews on Wednesday that it has filed an appeal with Bulgaria's Supreme Administrative Court against the decision of local competition authority to ban the deal for sale of the group's assets in Bulgaria to Inercom. "The appeal was filed August 1," Alice Horakova, CEZ press officer, said in an e-mailed statement in response to a SeeNews enquiry. Last month, Sofia-based Inercom also said it has filed a complaint with the Supreme Administrative Court against the competition regulator's decision.
The contract between CEZ Group and Inercom was signed on February 23. The deal raised concerns about Inercom's ability to finance the acquisition, which resulted in the establishment of a parliamentary ad hoc committee with the purpose of looking into the deal. Inercom Bulgaria was incorporated for the purpose of the deal with CEZ. 

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