CEZ will be sitting on huge amounts of cash in late 2021 from their asset sales abroad. They already announced buying back some of their bonds, they may announce an extra dividend this month and that will still leave them with enough to invest into something else. Battery JV with Skoda (VW subsdiary) is probably the most obvious no-brainer, afaik there are debates about the location.
Ann: Quarterly Activities Report, page-12
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