Final Word from Friday, December 4, 2009



Some readers wondered why we included owner Radim Jančura of Student Agency bus company on our recent list of members of the loose anti-ČEZ coalition. Events of the past week should have made the selection a bit more comprehensible. Jančura has declared an open war against ČSSD and its regional governors for their refusal to issue tenders for local rail service. Czech Railways was awarded 10-year no-bid contracts worth perhaps as much as Kč 150bn. Tens of billions of this might end up in the pockets of the beneficial owners of Škoda Holding. Jančura has claimed publicly that CEO Martin Roman of ČEZ has personally represented Škoda in its railcar dealings. Others claim an ownership connection. By filing an EU antitrust complaint regarding the regional rail contracts, Jančura will be asking Brussels to provide some answers. In a certain sense, it could be a second antitrust raid on ČEZ.[Czech Republic České dráhy RegioJet Appian]

Glossary of difficult words

comprehensible - able to be understood;

open war - Jančura has said he will pay for advertisements that attack ČSSD;

no-bid - a contract awarded without a competitive bidding process; a sole-source contract; 

beneficial owner - a person who benefits from ownership of an asset although someone else might be the legal or registered owner.

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