Czech Republic:

Czech energy distribution company Zapadoceska Energetika (ZCE) has said that Bayernwerk AG is close to controlling more than 40 per cent of its shares. Bayernwerk already holds a 16 per cent stake in ZCE and has now reached agreement with several Czech municipalities to exercise their voting rights linked to some 25 per cent of the shares. ZCE distributed power from plants in western Bohemia and had net profits of $10.6m last year.