Prague’s City Hall bosses have taken a first step towards winning full control of local gas distribution company Pražská plynárenská by ordering a valuation of the company now jointly managed with German power group E.ON. The valuation tender was won with a bizarre Kč 1 bid from Czech bank Česká spořitelna, which clearly see prospects of recouping costs and cashing in if the multi-billion purchase plows ahead.
Prague City Hall took a first step towards buying out its fellow shareholder in the Czech capital’s gas distribution company, German power giant E.ON, by ordering a valuation of Pražská Plynárenská. But is the move such a good idea when the council is seeking to curb its deficit? Vratislav Ludvík puts the case for the city to make a wholehearted dash for the gas distribution business.
The ODS-TOP 09 coalition running Prague City Hall wants to finally gain full control of Pražský služby, the highly lucrative municipal waste management/disposal firm. The city is now assessing the value of the company based on analyses by expert firms chosen in a tender, deputy mayor Pavel Richter (TOP 09) told Czech Position, and will then begin negotiating with the owner of the 18.85 minority stake, Natland. It also has gas firm Pražská plynárenská in its sights.
The Czech capital wants to buy an 18.85 percent stake in trash company Pražský služby, with the aim of the center-right coalition of the Civic Democrats (ODS) and TOP 09 that runs Prague City Hall being to gain almost 100 percent control of the municipal waste firm. But who owns the stake, ostensibly held by Natland, remains a point of speculation.