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Investing.com -- On Thursday, the Czech Republic’s competition authority UOHS dismissed appeals by French group EDF (EPA:EDF) against a multi-billion dollar tender for new nuclear power units. The decision paves the way for South Korea’s KHNP, the Czech government, and majority state-owned utility CEZ (PRAGUE:CEZP) to finalize contracts valued at a minimum of 400 billion crowns ($18.22 billion), in addition to projected inflation.
The ruling by the competition authority reaffirms an earlier judgement that EDF had challenged. The French group had previously lost out to KHNP in their bid for the high-value tender. The dismissal of EDF’s appeals allows the deal between KHNP, the Czech government, and CEZ to proceed without further legal hindrances.
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