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
The Gas Coordination Group, chaired by the Commission, met this afternoon to analyze in detail all elements of the preparedness of the EU and the Energy Community for a potential supply disruption in the Winter 2009/2010.
more »
In a meeting of the European Bank Coordination Initiative Group, held in Brussels, the parent banks of the nine largest banks operating in Romania reaffirmed their commitment to maintain their exposure to the country and ensure adequate capital levels over 10 percent for their affiliates.
more »
Airline airBaltic has informed of its plans to resume some flights from Vilnius International Airport before the end of this year.
more »
The European Commission has approved under EC Treaty state aid rules the restructuring plan of Lloyds Banking Group.
more »
"Finance and climate change" was under discussion at a 10 November hearing in parliament's Industry, Research and Energy Committee.
more »
The International Monetary Fund announced today the sale of 2 metric tons of gold to the Bank of Mauritius, the nation’s central bank.
more »
The euro area economy grew by 0.4% in the third quarter. Is the crisis over?
more »
After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established.
more »
From 16 November 2009, AB Bank SNORAS network starts providing new products – one can sign agreements of “Finasta Asset Management” II level pension accumulation funds in all subdivisions of the bank.
more »
The expected turnaround in the Baltic Rim economies is likely to gradually improve the business opportunities for Nordic companies operating in the region.
more »