EU Closes CEZ Probe After Company Offers to Sell Power Assets

European Union antitrust regulators have accepted an offer from CEZ AS (CEZ), the Czech Republic’s largest power producer, to sell power assets to resolve a competition probe into whether it hindered rivals.

“The divestiture of significant generation capacity will allow a new player to enter the Czech electricity market and to compete with the incumbent CEZ,” EU Competition Commissioner Joaquin Almunia said in an e-mailed statement. “This will benefit all electricity customers,” he said.

To contact the reporter on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

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