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Prague to privatize major state companies

Czech Republic officials said they plan to privatize the state-owned CEZ energy giant, the Czech Airlines and the Budvar Brewery, Prague Radio said Monday.

Czech Deputy Finance Minister Ivan Fuksa, in an interview with the Czech Mlada Fronta Dnes daily Monday said the government is also preparing for the privatization of Prague’s airport and a section of the country’s postal services. The government is to sell 7% of the CEZ energy company to maintain and further improve the country’s roads. The Finance Ministry has set up teams of experts to prepare privatization arrangements, Fuksa said. However, Jiri Cunek, Czech deputy prime minister, on a television talk show Sunday, opposed plans to privatize the Budvar Brewery beer producer as the company is earning the government millions of dollars. (m&c.com)