Source: World Investment Report 2000:
Cross-border Mergers and Acquisitions and Development.
a
Based on survey responses.
b
TNI is the abbreviation for “transnationality index”, which is
calculated as the average of three ratios: foreign assets to total assets,
foreign sales to total sales and foreign employment to total employment.
c Industry classification
for companies follows the United States Standard Industrial Classification as
used by the United States Securities and Exchange Commission (SEC).
d Including export sales
by parent firm. … Data on foreign assets, foreign sales and foreign employment
were not made available for the purpose of this study. In case of
non-availability, they are estimated using secondary sources of information or
on the basis of the ratios of foreign to total assets, foreign to total sales
and foreign to total employment.
Turkey's Efes Breweries bought 63 per
cent of Serbia's Pancevo Brewery for $6.3m. The investor plans to pump
$10m into the factory and boost beer production.
EFC Foundation recently concluded the
1st CEE/SEE Regional eCommerce in Financial Services Congress. A CD of
the proceedings has been produced which is available from Claudio
Cassuto, Director, EFC Foundation, Tel: 00 44 207 381 9291 Fax OO 44
207 381 9312
cassuto@euro-convention.demon.co.uk"
On the
25th June 2003 the first Romanian online casino was launched, Danube
Casino,
http://www.danubecasino.com.
Danube
Casino has as partner Windows Casino, one of the top 10 online casinos
in the world, legally licensed and fully insured, certified by Safe
Bet and approved by Electronic Gaming Commission. Windows Casino is
the winner of numerous international prizes, including Online Gaming
Awards 2002, for: Best Video Poker, Best Blackjack, Fairest Casino,
Best Promotions, Best Online Casino.
Danube
Casino offers over 125 different games (roulette, blackjack, poker,
slots, video poker, baccarat, craps, etc), according to the European
and American standards. The gamblers have the possibility, besides the
regular prizes, to obtain extra prizes, too, consisting in a trip to
Monte Carlo, a brand new Ferrari, or other promotional materials.
In
order to be able to play online, first, a deposit in the casino count
has to be made. All transactions are in USD. Payments can be made
either by credit cards, or through specialized services for the online
processing of the money (NETeller, Firepay, Stormpay, Western Union,
etc.).
The
gamblers that reach the Danube Casino site have the possibility to be
informed on the best game ways and strategies, but also learn the
rules of the games by appealing to the casino games guides. Multimedia
SRL and Windows Casino assure the technical support 24 hours a day, 7
days a week.
About Multimedia SRL:
MultiMedia
is a company managed
and staffed by business and information technology professionals
combining a variety of backgrounds, experiences, and talents Multimedia SRL was awarded this year with the WQC International
Star Award, Gold Category Paris 2003 prize by Business Initiative
Directions.
The main activity of the firm consists of Internet services, meaning:
Business services (Internet marketing, web design, web hosting,
translation, multimedia and desktop publishing, word processing,
secretarial, bookkeeping, consulting), IT&C solutions (hardware,
software, computer networks, training), virtual stores and e-commerce.
27.06.2003
Nicolae Sfetcu
Administrator
Multimedia SRL
Commission helps companies make the most of enlargement business opportunities
The European Commission has launched a pan-European campaign to help small and
medium-sized enterprises take advantage of EU enlargement business
opportunities.
The campaign is run by the Euro Info Centres, the largest business support
network of the European Commission.
Over the next year, 200 Euro Info Centres, from 26 countries (EU Member States,
Norway, Iceland and candidate countries) will organise about 400 activities such
as business clubs, workshops, information days and enlargement clinics, to
provide access to practical information and tailor assistance to individual
circumstances.
Information will be supplied on national markets (legislation, export guides)
and on specific industry sectors most affected by enlargement.
This campaign is in line with the overall Commission strategy to assist
entrepreneurship within the framework of EU enlargement.
News Date: June 20th 2003
Full information:
Download
Source: European Commission
OTE Announces Board Approval of Acquisition of Majority Stake in RomTelecom ATHENS, Greece--(BUSINESS WIRE)--Jan. 22, 2003--Hellenic Telecommunications
Organization SA (ASE:<A HREF="aol://4785:HTO, NYSE: OTE">HTO, NYSE: OTE</A>),
the Greek full-service telecommunications provider, today announced that its
Board of Directors approved the terms of the agreements reached with the
Romanian Ministry of Communications and Information Technology
("MCIT") on the transaction regarding the acquisition by OTE of additional
shares in RomTelecom as announced on November 1, 2002. The approval has taken
place after the Romanian Telecommunications Regulator ("ANRC") has introduced at
the beginning of 2003 an interconnection tariff regime satisfactory to
RomTelecom. The terms of the transaction remain unchanged compared to those
announced on November 1, 2002. The transaction includes a $243 million increase
of RomTelecom's capital, to be fully subscribed by OTE. This amount includes
approximately $98 million of conversion of debt owed by RomTelecom to OTE into
equity (Euro55 million representing a bridge loan from OTE to RomTelecom and $43
million representing trade payables by RomTelecom to OTE). OTE will also acquire
a further stake in RomTelecom from the MCIT for approximately $31 million.
Following the completion of these transactions OTE will reach a 54.01% ownership
of the expanded share capital. For the purpose of these transactions, a
valuation of RomTelecom's equity of $750 million, prior to the capital increase,
has been agreed.
Formal closing of the transaction is expected no later than the end of February.
Lefteris Antonacopoulos, OTE's Chairman and CEO, noted "we are pleased to
announce the conclusion of our negotiations with the Romanian government with a
satisfactory outcome for all parties. We believe that this transaction is a
positive development for both sides and provides a strong base for the
transformation of RomTelecom into a modern profitable organization offering high
quality telecommunications services to individual and business customers in
Romania. At the same time, this agreement is in line with our strategy focusing
on investments in Southeastern Europe that offer long term value."
Information regarding aspects of RomTelecom's strategic plan is expected to be
disseminated on Friday, 24 January, following the approval of the final
agreement documents by the Romanian Government. About OTE OTE is a provider of public, fixed switch domestic and international
telephony services in Greece. With local, long distance and international
communications services in addition to mobile telephony, internet services, and
high-speed data communications, OTE provides consumers and businesses the
ability to communicate globally through its extensive network infrastructure. In
addition, OTE has a number of International investments in the South East
European region and addresses a potential customer base of 60 million people.
Listed on the Athens Stock Exchange, the company trades under the ticker HTO as
well as on the New York Stock Exchange under the ticker OTE. In the U.S., OTE's
American Depository Receipts (ADR's) represents 1/2 ordinary share.
Additional Information is also available on
http://www.ote.gr. Forward-looking statement Any statements contained in this document that are not historical facts
are forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. All forward-looking statements are subject to
various risks and uncertainties that could cause actual results to differ
materially from expectations. The factors that could affect the Company's future
financial results are discussed more fully in the Company's filings with the
U.S. Securities and Exchange Commission (the "SEC"), including the Company's
Annual Report on Form 20-F for 2001 filed with the SEC on July 15, 2002.
CONTACT:
OTE
George Rallis
Investor Relations Officer,
Tel: +30 210 611 5888;
email: grallis@ote.gr
or
Kostas Bratsikas
Investor Relations,
Tel: +30 210 611 1428;
email: brakon@ote.gr
Hellenic
Telecom May Not Get 51% of Romtelecom, Romania Says Bucharest, Oct. 27 (Bloomberg) -- Hellenic Telecommunications Organization
SA may not take control of Romania's unprofitable fixed-line monopoly, the
government said, contradicting comments from Greece's biggest phone company. The
Friday statement by Greece's biggest phone company was ``premature'' and ``could
prejudice ongoing talks,'' Romania said in a faxed press release. Talks are
scheduled to resume tomorrow. Hellenic Telecommunications, known by its Greek
initials OTE, said Friday it agreed to buy new shares in Romtelecom SA, boosting
its 35 percent stake to a majority. Romania owns the other 65
percent. ``We can't state that OTE will increase its stake in Romtelecom as this
depends very much on a decision by the Romanian government following more
talks,'' Communications Minister Dan Nica told reporters.
The Romanian government Thursday approved a sale of new Romtelecom shares to
existing investors to raise $200 million. Romanian officials said they would
resume talks with OTE this week and didn't say whether the government would buy
shares to maintain its stake in the company. OTE is trying to take control of
Romtelecom so it can raise calling charges and fire workers to make the company
profitable. Romanian officials want to prevent a rise in prices less than three
months before the government opens the fixed-line phone market to competition.
Hellenic and Romania still have to agree on the value of Romtelecom based on an
evaluation by Schroder Salomon Smith Barney, the government's adviser, the
government statement said. The Greek company in 1998 paid $675 million for 35
percent of Romtelecom and management control. Hellenic in July said it wrote
down the value of its investment by 256 million euros ($250 million) after an
audit raised doubts about ``Romtelecom's ability to continue as a going
concern.''
Bulgaria,
Romania Plan Pipeline To Transport Natural Gas
DOW JONES NEWSWIRES
SOFIA, Bulgaria (AP)--Balkan neighbors Bulgaria and Romania agreed Friday to
build a section of an international pipeline to transport Iranian natural gas
from Turkey to Central Europe.
Energy ministers Milko Kovachev of Bulgaria and Dan Ioan Popescu of Romania said
Turkey, Hungary and Austria will also participate in the project, the state-run
BTA news agency reported.
Kovachev and Popescu gave no details, saying the project was at an initial
stage.
They also approved a bilateral accord on cooperation in the energy sector that
Prime Minister Simeon Saxcoburggotski of Bulgaria and Adrian Nastase, his
Romanian counterpart, are to sign in Sofia on Oct. 29.
The accord commits the two European Union hopefuls to work together in joining
the common European energy grid next year.
October 18, 2002
EBRD to boost investment in
Balkans SALZBURG, Austria, Sept 16 (Reuters) - The development bank for central and
eastern Europe, the EBRD, expects to invest 1.1 billion euros ($1.08 billion) in
the Balkans this year, up from 900 million in 2001 as reform in countries like
Romania, Bulgaria and Yugoslavia has increased investment opportunities.
"We are going to invest this year 1.1 billion euros, which is much more than
last year," European Bank for Reconstruction and Development President Jean
Lemierre told a press conference at the Europe World Economic Forum in Salzburg.
Romania's new government has moved ahead with key privatisations in steel and is
set for a big bank privatisation and Bulgaria's economy has continued to
liberalise and grow, Lemierre said.
There were also signs of hope in Yugoslav successor states, but Lemierre said
states like the Federal Republic of Yugoslavia, comprising Serbia and
Montenegro, needed to wean themselves off aid flows.
"The challenge for the region, especially the Balkans, is to make the process
sustainable even if the support by grants is being heavily reduced," Lemierre
said.
Serbia has for example received $1.2 billion from donors to help it rebuild
from the economic damage of the era of Slobodan Milosevic.
Serb officials said they were seeking new forms of finance from privatisations,
infrastructure projects and bank sales, Minister for External
Economic Relations Goran Pitic said.
He said Serbia could grow more than the forecast 4-5 percent next year if
foreign direct investment came in above the expected level of $400-$500
million.
"We believe it is conservative... We are going to have more than that," he
said.
Serbia received $160 million in investment last year.
