CEZ has taken a hard negotiating position for its proposed nationwide swap of shares in regional electricity distributors with German companies E.On and RWE. CEZ has outlined its plans to consolidate its position in a central band of distribution companies, including Zapadoceska Energetika (ZCE), Stredoceska Energetika (STE), Vychodoceska Energetika (VCE) and Severomoravska Energetika (SME).

CEZ said in a statement: “The interests of foreign competitors are irrelevant if they are contrary to CEZ’s interests.” CEZ wants to exchange its minority shareholdings in Jihoceska Energetika (JCE) and Jihomoravska Energetika (JME) for E.On’s stakes in ZCE and VCE. CEZ would also offer RWE the chance to strengthen its holding in Prazska Energetika (PRE) in exchange for its stake in STE. CEZ said that if no deals could be agreed with the German companies, then it would revert to other options, including the sale of its minority shareholdings in the regional distributors to other companies, and the sale of its large shareholdings in Severoceska Energetika (SCE) and the grid company CEPS.