Resonance from the CEZ raid
Anyone who follows the Czech energy sector has known since at least Sept. of last year that ČEZ signed a secret agreement in June 2009 with J&T and EnBW about dividing up part of the Czech energy market. Euro wrote a fine article about it. The FT repeated many of the details on Fri., adding that the EU Commission is using the secret document in its probe against ČEZ and J&T. In retrospect, it's curious that Euro was the one to break the story, given that its owner, PPF, is a partner in EP Holding with that same J&T. It's also noteworthy that Euro has written twice about a plan being considered at ČEZ for taking on a strategic partner from the energy sector to invest in Temelín and other nuclear projects in the region. A conclusion that might be drawn from all this is that PPF is seeking to weaken the current ČEZ management, take majority control of EPH, and become ČEZ's strategic energy partner.
Glossary of difficult words
resonance - the reinforcement or prolongation of sound by reflection, as from the walls of a hollow space;raid - a surprise visit by police or other competent officials to arrest suspected people or investigate suspected activity; the ČEZ raid occurred on Nov. 24, 2009;
probe - an investigation into a crime or other matter;
to break a story - to be the first one to write or report about an event.