October 25 (SeeNews) - Power distributor CEZ Electro Bulgaria [BUL:1CZ] was the top decliner on the Bulgarian Stock Exchange on Friday, closing 16.81% lower at 19,800 levs.
The other BSE-listed unit of Czech energy group CEZ - CEZ Distribution Bulgaria [BUL:3CZ], ended 4.95% down at 192 levs.
Late on Thursday, Bulgaria's competition regulator said it has banned Eurohold Bulgaria's [BUL:4EH] 335 million euro deal to acquire the assets of CEZ in Bulgaria, including majority stakes in CEZ Electro Bulgaria and CEZ Distribution Bulgaria.
The Commission for Protection of Competition (CPC) decided to ban the acquisition of the assets of CEZ by Eurohold Bulgaria because combining the experience of the economic resources and market positions of the two groups in the electricity and insurance sector creates prerequisites for the notified deal to lead to the establishment or strengthening of dominant position, the anti-trust body said in its decision.
The decision can be appealed before the Sofia Administrative Court.
CEZ Distribution Bulgaria was the top decliner among members of the BGTR30 index, in which companies with a free float of at least 10% have equal weight. However, the BGTR30 held on to a slim gain of 0.05% to 498.86 points on Friday, backed by a 3.89% rise in the share price of Holding Sveta Sofia [BUL:4HS].
The blue-chip SOFIX index advanced 0.07% to 561.41 points on Friday, while the wider BGBX40, which tracks the 40 most traded shares on the Sofia bourse, fell 0.33% to 110.07 points.
The BGREIT index, which tracks the performance of real estate investment trusts, rose 0.25% to 127.98 points.
Total regulated market trading turnover grew to 638,000 levs on Friday from 210,000 levs on Thursday.
(1 euro = 1.95583 levs)