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Daily on-line issue for financial,
industrial and corporate news
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| ISSN 1311-364X |
Published
by Bourse Information Company Capital Market Ltd. |
Bulgaria
Financial news*
Privatization*
Companies
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Bulgarian
Industrial Association
news
Business
*
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World
USA* Europe
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BULGARIA
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Economic indicators
BNB Exchange Rates
(04.02.2000)
Main Interest Rate
as of 02.02.2000):
3.68 %
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FINANCIAL
NEWS |
The OTE/KPN Greek-Dutch consortium announced
yesterday that it was ready to pay the initially agreed price of USD 510
million for 51 per cent of the capital of Bulgarian
Telecommunication Company SPJSC - Sofia. The reviewed offer includes
investments of USD 150 million. The consortium also said it had dropped
its request to the Government to guarantee BTC
monopoly on International data transfer, which includes Internet providers.
It also dropped its other request to put USD 100 million of the total price
on a special trust account against risks of changes in the Bulgarian legislation.
The consortium said it was prepared to pay the state a BGN 30 million dividend
on last year's profit of about BGN 100 million.
Source: BTA |
Terms for
privatization offers
For
any additional information about the needed documents, business programmes,
securing of funds, investment consulting
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PRIVATIZATION |
Zlatitza Express Holding - Vratza has bought
the remaining state-owned 7 per cent stake of the capital of Zora
JSC - Targovishte. The holding acquired 24 per cent of the company's
capital in 1998. The price of the deal is BGN 63 015.16 or BGN 7.17 per
share.
Source: Pari |
Bulgarian Stock Exchange
Sofia
03.02.2000
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COMPANIES |
The Executive Director of Petrol
JSC - Sofia Mr. Bedo Doganyan retired, was reported from the oil company.
The reason for Mr. Doganyan's retirement was fact that he has too many
other engagements. Mr. Doganyan remains Chairman of the Supervisory Board
of Petrol
Holding Group. The new Executive Director of Petrol
will be Mr. Marin Petrov, who have been a chief accountant in the company.
The consortium of Austrian OMV and Bulgarian Ucos
Petroleum JSC - Varna has bought recently the major stake of Petrol's
capital.
Source: Standart
100 new working places have been opened in the dressmaker’s factory
Elena
Georgieva JSC - Pernik, was reported from the company’s management.
The factory increases its staff because of the concluded new contracts
for export of clothes in France and England.
Source: BTA
Anschuts Overseas Corporation, a Colorado-based US company, was permitted
by the Government to prospect the A block near Lovech for oil and natural
gas. The permit is for three years, with an area fee of BGN 30 per sq.
m. The minimal business programme is worth USD 1.5 million.
Source: Standart |
BEIS
Rating
Food-processing industry
Production, processing of
meat and meat products
Top 10 companies
by capital
for 1998/BGL
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BULGARIAN
INDUSTRIAL ASSOCIATION NEWS
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***
BIA recruits offers, within the framework of the joint project BIA
-SIMEST, from Bulgarian construction companies interested in
participation in a working meeting with Italian construction entrepreneurs
that will take place in Rome in the period 3-5 April.
Contact person:
Mr. Martin Stoyanov - International projects and programmes
Tel. 980 99 16, 980 90 96 / ext. 146
Fax: 987 26 04
e-mail: martin@bia-bg.com
***
Bulgarian Industrial Association
(BIA) offers to companies that need investments, the opportunity
for financial support, in case their activities include:
· design and construction of environmental equipment
· spare parts for such equipment
· recycling of waste
· consulting in the field of environment
The investment fund for environment for Central and East Europe - "Partners
for Investments in Ecology" offers loans of EUR 0.5 - EUR 3.5 million
to enterprises that have perspectives to increase their profits and working
salaries within the next 5 years.
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| WORLD |
Stock markets indexes
| Dоw Jones Industrial |
| 11013.44 |
(+10.24) |
| Nasdaq Composite |
| 4210.98 |
(+137.02) |
Commodity exchanges
| Commodity* |
Price |
| LIGHT CRUDE ($US/bbl.) |
28.10 |
| BRENT CRUDE ($US/bbl.) |
25.50 |
| HEATING OIL ($US/gal.) |
0.779 |
| NATURAL GAS ($US/mmbtu) |
2.66 |
| UNLEADED GAS ($US/gal.) |
0.787 |
| GOLD ($US/Troy Oz.) |
289.70 |
| SILVER (cents/Troy Oz.) |
529.00 |
| PLATINUM ($US/Troy Oz.) |
475.00 |
| HOGS (cents/lb.) |
60.95 |
| PORK BELLIES (cents/lb.) |
92.30 |
| LIVE CATTLE |
72.42 |
| FEEDER CATTLE |
85.22 |
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*prices as of 3 February, 2000
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Europe
Mannesmann on Thursday night capitulated to a GBP113bn takeover
fromUK wireless rival Vodafone AirTouch. It is a deal that will throw
open the corporate doors of Europe and pave the way for a wave of cross-border
mergers and acquisitions.
The merger is the largest takeover of all time, ranking above AOL's
recently announced deal with Time Warner, and will generate the largest
adviser fees, at almost GBP600m.
Mannesmann announced it had agreed with Vodafone that the German group's
shareholders will take 49.5 per cent of the combined company. The UK group
is offering 58.96 of its shares for each Mannesmann share, valuing Mannesmann
shares at E353.
The terms are expected to be approved by the Dьsseldorf-based company's
supervisory board on Friday. They also require approval from shareholders.
Provided Mannesmann's supervisory board approves the deal, as expected,
Vodafone - at GBP228bn - will emerge from the takeover as Europe's largest
publicly-traded company and the world's largest telecoms group. It will
also rank as the fourth largest company in any industry behind Microsoft,
General Electric and Cisco Systems.
Source: FT
USA
American Airlines, which operates the world's largest commercial
aircraft fleet, is planning to cut its capacity by close to 6
per cent in a move that could encourage similar reductions by other leading
carriers.
The airline industry has been suffering from increasing overcapacity,
in particular on transatlantic routes where yields have fallen sharply.
Carriers have also been hit hard by the rapid rise in oil prices, which
has forced many airlines to raise fares or introduce fuel surcharges. KLM,
the Dutch carrier, said this week it had fallen into a $17.2m net loss
in its third quarter.
American is using the capacity reduction to upgrade its economy-class
offering on its fleet of more than 700 aircraft.
It said on Thursday it would remove more than 7,200 seats, equivalent
to about 6.4 per cent of its economy-class seating capacity, and increase
the space between rows for more than 75,000 economy seats.
Source: FT |
*This issue is not responsible
for the reliability of the published information. Such is to be attributed
to the mentioned sources.
For advertisements and more
information please contact:
Bulgaria, Sofia, 16-20 Alabin
Str., tel. (+359 2) 9801091, fax (+359 2) 9814567, mail: bic_office@bia-bg.com
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