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
- ‘Sons of Anarchy’ Season 7 Finale Spoilers: Kurt Sutter On Ending The Biker Series And Picking The Right Song For The Final Ride
- Prince Charles’ Wife Camilla Parker-Bowles In Drug Scandal - Reports
- Prince Harry Kissing Mystery Blond, Cressida Bonas & Camilla Thurlow Are Distant Memory
- St. Louis Rams 28, Seattle Seahawks 26 [PHOTOS]
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
- Galaxy Note 4 vs Redmi Note 2 vs iPhone 6: Samsung in Danger with Depressing Q3
- iOS 8 Jailbreak Release Date Likely this October 2014 with Pangu not Evad3rs Firming Up as Creator
- Top 4 Free-To-Download Apps for Fuller iPhone 6, 6 Plus Experience
- Apple Inc. (AAPL) Stock Set to Soar Beyond $100 Despite Decline After New iPad Launch
- Battery Saving Android 5.0 Lollipop Feature Extends The Battery Life Of Your Android Device By 90 Minutes And Displays Orange Bar While Power Saving Mode Is On
- Russia Beefs Up Gold Reserves To Offset Heat of Sanctions And Undercut Dollar
- Australia's 'No Way' Anti-Asylum Seeker Poster Sparks Outrage