CEZ launches arbitration against Bulgarian state

The Czech energy giant CEZ has launched an international investment arbitration case against Bulgaria, company spokesperson Barbora Půlpánová said on Tuesday. CEZ is seeking hundreds of millions of euros from the Bulgarian state. Ms. Půlpánová said that CEZ had decided on the step following a number of interventions on the part of Bulgarian institutions that had harmed the firm’s business activities in the country. The antitrust authority in Sofia fined CEZ over EUR 600,000 for abusing its dominant position on the local market.

Author: Ian Willoughby