Article Abstract:
Estonia has launched its largest ever privatization offering with the IPO of shares in the Eesti Telekom monopoly. The offer represents approximately 44 percent of the company and is expected to raise $US200 million to $300 million in revenue. Two Nordic operators, Sonera of Finland and Telia of Sweden, hold 24.5 stakes in the Eesti Telefon and Mobiltelefon subsidiaries and will obtain a further 4.67 percent in the IPO process. Shares in the IPO will be listed as ordinary shares in Tallinn and as Global Depositary Receipts (GDR) in London. Estonia has also approved US firm NRG Energy's proposal to buy 49 percent stakes in its two largest power plants, Balti and Eesti, operated by power utility Eesti Energia.
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Article Abstract:
Russia plans to sell a stake in national energy company Unified Energy System (UES) and telecom company Svyazinvest. Proceeds from the sales could raise up to 12 trillion roubles. Some 7.5% of UES, which operates 29 power plants, will be sold before the end of 1996 and is estimated to be worth around $225 million. A 51% stake in UES will be kept by the state until end-1998. Other sales include 24% of oil pipeline monopoly Transneft and a 35% stake in oil company NK Sidanko.
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Article Abstract:
The article describe privatization in Poland in the telecommunications services, petroleum, and transportation industries. Polski Koncern Naftowy is offering thirty percent, Telekomunikacja Polska SA is offering twenty five to thirty five percent, and Polskie Linie Lotwicze is offering ten percent.
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