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EU Closes CEZ Probe After Company Offers to Sell Power Assets

April 10 (Bloomberg) -- European Union antitrust regulators have accepted an offer from CEZ AS, 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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