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July 7th, 2008
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RESERVES The Administration of State Reserves (SHR) plans to sell part of its supply of food, cotton and other commodities to buy 200,000 metric tons of crude oil and gasoline, Mladá fronta Dnes reported April 3. The SHR, designed to reinforce reserves in case of war, cited the low risk of “massive military conflict.” Instead, the SHR must prepare for natural disasters, it said.

COMPLAINT The Constitutional Court has rejected a complaint by the German energy utility E.ON in its ongoing dispute with KKCG over control of the oil and gas company MND, the news server Aktualne.cz reported April 7. E.ON was appealing a court’s decision to appoint a trustee to oversee Europgas, a joint venture between E.ON and KKCG that controls 48 percent of MND. The power struggle between the two firms is unlikely to abate any time soon.
ENERGY Electricity prices will likely rise 30 percent by 2013, the sales director of the dominant energy utility ČEZ told Patria Online April 4. With the cost of carbon emissions expected to rise, ČEZ is planning to generate 20 percent of its electricity with natural gas by 2013; currently, ČEZ has no gas-fired plants. Separately, ČEZ announced it will not bid on the Russian energy company TGK-4.
TENDER The state is seeking an adviser on its planned privatization of Czech Airlines (ČSA), the government announced April 2. The tender for the contract begins April 15 and the winning firm will advise the state on the best method and timetable for the ČSA sale. According to analysts, the country could raise some 5 billion Kč ($314 million) for its 91.5 percent stake in the airline.
MITTAL The arbitration dispute between the Czech Republic and the international steel giant ArcelorMittal should be resolved by this summer, Hospodářské noviny reported April 8. ArcelorMittal, which owns a large steelworks in Ostrava, north Moravia, is suing the state for more than 20 billion Kč for its exclusion from the privatization of the Vítkovice Steel ironworks.
AGRO GE Money, a subsidiary of General Electric, has acquired the consulting firm AgroConsult Bohemia, which it hopes will reinforce its advisory services in the field of European Union and state subisidies, the companies announced April 2. AgroConsult is a small firm specialized in agricultural subsidies, having assisted some 317 projects worth over 2.26 billion Kč.
EMISSIONS Czech industry again emitted less carbon dioxide than allocated to it, the European Commission announced April 2. Companies emitted a total of 77.7 million tons of the pollutant into the air last year, while the EU had allocated the country 84.8 million tons of carbon credits. In 2006, the country also fell short of its EU limits, emitting 83.7 million tons of carbon.
KOFOLA The soft drinks manufacturer Hoop-Kofola plans to make additional acquisitions in Poland, the Czech Republic and Russia, Thomson Financial reported April 4. Kofola, the Czech Republic’s second-largest soft drink company after Coca-Cola, and Hoop finalized their merger April 3. The company is in talks to buy two Polish peers and plans to pull out of Hungary.


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