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
Elinor Ostrom -- an American professor who developed ways to manage common property - is the first woman to win the Nobel prize for economics.
more »
The European Commission has today approved an application from the Netherlands under the Globalisation Adjustment Fund (EGF) for € 386 114 to help 435 workers made redundant by Heijmans N.V., a Dutch construction company, back into jobs.
more »
Seeking to strengthen and further expand product sales in the Asian region, the Lithuanian biotechnology company Fermentas established its subsidiary in China.
more »
Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in January–August 2009 totalled LTL 25.6 billion, while imports – LTL 28.9 billion.
more »
On 6 October 2009 AB Bank SNORAS Board decided to reform the Private Limited Company UAB “SNORO investicijų valdymas” into the Public Limited Company AB „Finasta Holding“, which will control recently obtained „Finasta“ group companies and other Bank SNORAS group companies, engaging in investment management.
more »
If your airline goes bankrupt and leaves you stranded what are your legal rights? Members of the Parliament's Transport Committee want grounded passengers to have access to a special compensation fund.
more »
Euro report says currency provided protection from interest and exchange rate turbulence.
more »
Statistics Lithuania informs that in September 2009, against August, prices for total industrial production sold dropped by 1.6 per cent.
more »
The European Bank for Development and Reconstruction (EBRD), the European Investment Bank (EIB) Group, and the World Bank Group* on Monday warned against complacency in the face of significant challenges that stand in the way of economic recovery in Central and Eastern Europe.
more »
The leader of the country’s investment products’ market – AB DnB NORD Bankas – intends to issue up to EUR 300 million nominal value corporate notes in local and foreign markets over the next 12 months.
more »