Czech telecoms group Ceske Radiokomunikace reached a deal with consortium CMobil to speed up re-alignment of their mobile phone joint venture.
Published:
21 October 2000 y., Saturday
Czech telecoms group Ceske Radiokomunikace reached a deal with consortium CMobil to speed up re-alignment of their mobile phone joint venture and pave the way for Radiokomunikace's privatization.
Radiokomunikace said in a statement that it had agreed that CMobil, led by a unit of Deutsche Telekom AG, would pay to take a majority stake in the fast-growing Radiomobil venture, clearing the way for the sale of Radiokomunikace.
The company said that CMobil will raise its stake in Radiomobil to 60.77 percent from 49 percent and will and pay compensation to Radiokomunikace in the first quarter of next year, several months earlier than previously agreed.
The government has called on CMobil to speed up the transaction to clear the way for privatization. Radiokomunikace has not disclosed the specific size of the compensation, but it has said it is in the range of USD 550 million, a sum larger than the company's equity.
Radiokomunikace shares firmed CZK 19 on the news to 1575 but had retreated to CZK 1554 by around 1500 GMT, still up 4.09 percent on the session.
Šaltinis:
centraleurope.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Both women and men have been hit by job losses in the downturn, says a new report adopted by the European Commission today.
more »
Unemployed car and construction workers in Sweden, Austria, and the Netherlands will get €15.9 million in EU Globalisation Adjustment Fund aid for training, self-employment and professional orientation services under a plan endorsed by Parliament in plenary on Wednesday.
more »
As the economy recovers, EU countries will need to phase out crisis measures. The question is when?
more »
The European Commission has endorsed, under EU state aid rules, a Polish scheme intended to compensate the Polish Post for net losses incurred in discharging its public service obligations between 2006 and 2011.
more »
The European Commission reports good progress in the implementation of the Small Business Act (SBA) in 2009.
more »
The European Commission approved the first financing decisions in favour of eleven African and two Caribbean countries for a total of € 230 million, including € 215 million under the so-called Vulnerability FLEX mechanism (V-FLEX).
more »
Legal measures to make it easier for people who have lost or risk losing their jobs to get credit to start up their own businesses were backed by the European Parliament on Tuesday.
more »
How can companies and industry help to stop climate change? This is one of the questions on the table when Sweden’s Minister for Enterprise and Energy Maud Olofsson attends the climate change conference in Copenhagen on Monday and participates in a panel discussion organised by Businesseurope.
more »
In a meeting held today in Brussels, the Gas Coordination Group, under the chairmanship of the Commission, has discussed with Russian Gas Company Gazprom the gas supply and demand outlook and investment strategy of the company in both Russia and the EU.
more »
The European Commission has approved under EU state aid rules the impaired asset relief measure and the restructuring plan of Royal Bank of Scotland (RBS).
more »