Abstracts » Business, international

Ireland pushes forward with liberalisation

Article Abstract:

The new Irish government, Fianna Fail/Progressive Democrats, is committed to privatising state companies in the hope that it will improve the infrastructure and bring in revenue. Privatisation is also a requirement of being involved in European Monetary Union. Telecom Eireann will lose its monopoly on 1 Dec 1998. Unions have agreed that employees will receive a 5% share in the company plus the chance to buy another 9.9% at a 20% reduction on the share price in return for accepting a 20% reduction in the workforce. The Industrial Credit Corporation is also being privatised.

Economic aspects, Ireland, Economic policy, Fianna Fail Party (Ireland), Telecom Eireann, Industrial Credit Corporation PLC

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Greece watches international markets warily

Article Abstract:

The Greek government aims to go ahead as planned with the sale of a third tranche in Hellenic Telecommunications Organisation. It has speeded up negotiations with employees about a voluntary redundancy programme in order to make the stock more attractive. There are also plans to float a 25% stake in Olympic Catering, a deal which is expected to raise $14 million, and for a second Athens Stock Exchange share issue in mid-Dec 1998. Greece has also successfully launched its pre-shares, bonds which can be converted into privatization stock to be issued after Jan 1, 1999.

Greece, Privatization, Privatization (Business), Hellenic Telecommunications Organization S.A.

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