Group will pay 55.3 billion Kc for 51 percent of telephone company
Published:
21 August 2002 y., Wednesday
The saga of Cesky Telecom's privatization may finally have come to an end.
Finance Minister Bohuslav Sobotka ended years of government deliberation and indecision August 7 when he told a press conference that the Cabinet has decided to sell the state's 51 percent stake in the dominant fixed-line carrier. Deutsche Bank and TDC, a Danish telecom firm, have agreed to pay 55.3 billion Kc ($1.8 billion) beating out a lower bid from Swisscom, CVC Capital Partners and Spectrum Equity Investors.
Deutsche Bank will take ownership of the shares, while TDC will be responsible for advising Cesky Telecom management, and would receive shares based on performance.
Analysts said the sale of Cesky Telecom, which operates nearly 4 million telephone lines across the country, would be good for competition in the telecom market, and ended uncertainty over the company's future.
Šaltinis:
praguepost.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
New legislation for pan-European supervision of credit rating agencies and a public debate on how financial institutions are managed.
more »
On 2 June in Vilnius, Lithuania‘s Vice-Minister of Foreign Affairs Asta Skaisgirytė Liauškienė and Deputy Director General of the World Trade Organization Rufus H. Yerxa discussed the main issues on the international trade policy agenda, Russia‘s WTO accession and the changing role of China in the world economy.
more »
2157 former construction workers in Spain and 598 ex-employees at the Irish crystal glass company Waterford Crystal with suppliers could get €11 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Wednesday.
more »
Companies from the UK, Belgium, Germany and Spain have won the 2010 European Business Awards for the Environment.
more »
The planned overhaul of EU fisheries policy should devolve more powers to regions, protect small coastal fleets and boost aquaculture, said MEPs and members of national parliaments on Tuesday.
more »
The first in a series of loan agreements for energy efficiency investments in multi-apartment buildings was signed today between the European Investment Bank (EIB), as manager of the JESSICA holding fund in Lithuania, and Šiaulių bankas.
more »
Despite the current economic crisis and tensions in the euro, Estonia is set to adopt the single currency in January.
more »
Commission proposes a bank tax to cover the costs of winding down banks that go bust.
more »
The European Investment Bank will provide a total of EUR 400 million to Hellenic Petroleum SA in order to increase the production of cleaner fuels via the upgrading of the Elefsina refinery.
more »
European ministers meet on Tuesday and Wednesday in Brussels at the final Competitiveness Council to be held during the six months of the Spanish Presidency, which has an agenda laden with important issues such as the electric vehicle, the European patent system and national R+D investment goals.
more »