October 10, 2019 / 12:54 PM / 10 days ago

Bulgaria's watchdog to look closely into deal for CEZ's Bulgarian assets

SOFIA, Oct 10 (Reuters) - Bulgaria’s competition watchdog said on Thursday it would carry out an in-depth inquiry into Eurohold’s plans to acquire the Bulgarian assets of Czech utility CEZ before deciding on approval of the 335-million-euro deal.

Bulgarian holding company Eurohold has a significant share of the insurance market, while some of CEZ’s Bulgarian companies are active in energy trade, which requires bank and insurance guarantees, the watchdog said.

It said it needed to look closely at the deal’s impact on the energy market.

The watchdog now has four months to decide whether or not to approve the deal. (Reporting by Tsvetelia Tsolova, editing by Deepa Babington)

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