FORM 6-K
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                        Report of Foreign Private Issuer

                        Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934




For the month of October 2003
Commission File Number 333-7182-01

                                   CEZ, a. s.
      ---------------------------------------------------------------------
                 (Translation of registrant's name into English)

                                c/o Duhova 2/1444
                                 140 53 Prague 4
                                 Czech Republic
      ---------------------------------------------------------------------
                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.

                     Form 20-F  X           Form 40-F
                               ---                    ---

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                      Yes                     No  X
                          ---                    ---

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
82- ________
<PAGE>
The following information was filed by CEZ, a. s. in Czech language with the
Prague Stock Exchange as required by its rules and regulations:



ANNOUNCEMENT OF The RESULTS OF A MANDATORY BUYOUT OFFER for VCE

CEZ, a. s., a company having its registered office in Prague 4, Duhova 2/1444,
Postal Code: 140 53 , Identification No.: 45274649 (the "Proposing Party")
hereby publicizes in accordance with Section 183a (14) of Act No. 513/1991
Coll., the Commercial Code, as amended, the results of a mandatory buyout offer
in respect of the following securities:

<TABLE>
<CAPTION>
   ----------------------- --------------------- ---------------- ------------- -------------- --------------

       Target company           ISIN / SIN          Number of      Number of      Price per      Stake in
                                                   agreements        shares      share (CZK)   percent (%)*
   ----------------------- --------------------- ---------------- ------------- -------------- --------------
   <S>                     <C>                   <C>              <C>           <C>            <C>
   VychodoCeska            CZ0005076950          141              176,240       3,051.10       10.316121
   energetika, a.s.
   ----------------------- --------------------- ---------------- ------------- -------------- --------------

   VychodoCeska            770950001501          16               2,868         3,051.10       0.340962
   energetika, a.s.
   ----------------------- --------------------- ---------------- ------------- -------------- --------------
</TABLE>


*     The foregoing percentage stake represents the percentage stake in the
applicable issue of the target company's shares to which the buyout offer
applied and which the Proposing Party will obtain on the basis of the buyout
offers - provided that the transfers are successfully settled.


The buyout offer in respect of the above target company was publicized in the
newspaper Hospodarske noviny on September 15, 2003. The period during which the
offer was binding ended on October 13, 2003.
<PAGE>
                                   Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                                            CEZ, a. s.
                                                     ------------------------
                                                           (Registrant)
Date:  October 16, 2003

                                                  By: /s/ Libuse Latalova
                                                     ---------------------------
                                                          Libuse Latalova
                                                  Head of Finance Administration