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 World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »