CEZ, is an almost fully owned state company. Although on the outside, the Czech Republic looks like a reasonable place to invest. It’s mostly large multinationals, few medium or small sized businesses are here. It also has to be considered that the government changed, Babis is not in power right now. Babis is one of the richest men in the country. Much of the business done at high levels involves some element of tunnelling. It was not a smart move to give a 51 percent stake in the company to a state owned enterprise in a former communist country, where the richest man in the country was also the prime minister. The company is also set up in the Bahamas, so that is a bit of a red flag as well.
EMH Price at posting:
15.0¢ Sentiment: None Disclosure: Held
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