The Ministry of Energy, Trade and Economy (METE) declared that they will block the sale of the CEZ
Distribution Company, accusing it of bad management and disinformation about its financial situation.
“We own 24% of the CEZ Distribution shares, but for the sale we were informed only by the media. CEZ is not fulfilling any of the contracting obligations and the company is considered in bankruptcy”, the press announcement says.
METE says in this document that they are working to improve the partial management of the company, which has caused a colossal damage to the country.
“We are negotiating to resolve the problems that CEZ cannot manage. CEZ has caused 1 billion of damages to Albania”, says a press communication.
Two days ago CEZ clarified through a declaration that they have started the process for selling its business in Albania.
According to the company, potential buyers could show their interest during January, after which they would take a decision for the further steps.
On the same time, the declaration of the mother company in the Czech Republic explained that they would continue the negotiations with the Albanian authorities in order to resolve the current stalemate.
The Czech energy company entered the Albanian market in May 2009, buying 76% of the shares of the domestic distribution company. The remaining 24% belonged to the Albanian government.
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