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Tuesday, October 19, 2004

The Romanian Economy Ministry rejected the AES Corp. request for a bid extension

Romanian Economy Ministry officials said that the government is determined to keep the deadline, which expired Monday, at 12:00 GMT.

The companies qualified in the final stage in the privatization of regional power suppliers Electrica Oltenia SA and Electrica Moldova SA are:

Spain's Union Fenosa SA (UNF.MC),
Germany's E.On AG and
CEZ AS (BAACEZ.PR) of the Czech Republic

So far, only CEZ has indicated it is willing to make a final bid.

CEZ wants to bid for both companies and is ready to invest up to EUR1 billion in Romania into various energy projects, Vladimir Schmalz, the head of CEZ mergers and acquisition department, was quoted as saying by daily paper Ziarul Financiar earlier this month.

The two companies supply electricity to the southwestern and northeastern parts of the country respectively.

Posted by Iulia Rasoiu : 10/19/2004 04:10:00 pm