Bulgaria prosecutors propose revoking CEZ power licence
February 19, 2013 10:00 PM EST
Bulgarian prosecutors want to remove Czech company CEZ's licence for power distribution in the Balkan country, an official said on Tuesday, after nationwide protests against electricity prices.
Tens of thousands of people have demonstrated across Bulgaria, the European Union's poorest company, and demanded that the government renationalise power distributors CEZ, Czech firm Energo-Pro and Austria's EVN.
"As far as the systematic violations of the separate district power distribution companies are concerned, we came to the conclusion there is a need to make a proposal ... for revoking the CEZ licence," Sofia prosecutor Georgi Kamburov told reporters.
On Monday the government, whose support is slipping before a July election, sacked Finance Minister Simeon Djankov, who was unpopular for keeping a tight rein on spending, but protests continued regardless.
CEZ shares in Prague extended losses after the news, falling as much as 1.8 percent to a three-week low.
(Reporting by Tsvetelia Tsolova and Angel Krasimirov; Writing by Sam Cage; editing by Jane Baird)
Most Popular Slideshows
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Apple iPhone 6 Plus vs Motorola Droid Turbo: Comparsion On Processor, Software And Battery
- Nexus 6, 9 Buyers on November Release Will Enjoy These 3 Killer Lollipop 5.0 Features First
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- Samsung Galaxy Note 4 vs Motorola Droid Turbo – S-Pen Is Note’s 4 USP But Droid Turbo Can Outshine With Larger Battery
- 8 Important Things to Consider Before Buying or Upgrading to iPad Air 2