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)
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
- 5 Proofs Russia is Geared-Up for Shooting War with U.S. and Can Win Future Nuclear Showdown
- Target’s ‘Surprise Doorbusters’ Black Friday 2014 Deals On TV Sets, Entertainment Centres, DVD Players And More
- IKEA Black Friday 2014 Ad Includes Discounts On Home Furnishings, Appliances, Kitchen Designs, Beds, Sofas, Mattresses And Toys
- T-Mobile’s Black Friday 2014 Deals On Apple iPhone 6, Samsung Galaxy Note 4/Edge, Nexus 6, HTC One M8, LG G3, iPad Air 2 And Mini 3
- ISIS Drug Transit From Afghanistan To Europe Confirmed By Russia: Money Goes Into Terror Funding And In New Recruitments
- ISIS Kidnaps Iraqi Defence Minister’s Family, Executes Female Parliament Candidates
- Bill Clinton At It Again, Caught By Camera In Jerusalem Peeking At Woman’s Breast