Slovakia: Tatra Banka threatened
Article Abstract:
The Slovakian subsidiary of the Austrian Raiffeisen bank, Tatra Banka, has been the victim of a campaign in which rumours have been spread by text message and e-mail suggesting that the bank and its Austrian parent company had lost so much capital in the World Trade Center that the existence of at least Tatra Banka is in danger. The rumours also stated that the bank had invested large sums in Afghanistan which it will lose thanks to the American bombing of the country. The management of Tatra Banka, which has been forced to make a public statement about the rumours because its customers, especially in rural areas, have begun to withdraw money from their accounts, claims that the rumours are completely untrue and that whoever is spreading them is merely attempting to defame Slovakia's most successful bank. The bank has offered EUR 123.5mn for information regarding the person or people spreading the rumours. Slovakia's largest bank, Slovenska Sporitelna, which is a subsidiary of Austrian-based Erste Bank, was also threatened on 9 October 2001. The Slovakian embassy in Vienna received anonymous bomb threats against the bank's west Slovakian branches.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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SLOVAKIA: TELECOM PRIVATISATION JEOPARDISED
Article Abstract:
Slovakia is planning to privatise the telecoms company ST (Slovenske Telekomunikacie) by the end of 1999. However, the plan is jeopardised by a lawsuit filed in 1996 by Radio CD International. The Austrian broadcaster had got round the radio monopoly in Austria by broadcasting programmes with ST's equipment from Slovakia to Austria. ST refused to continue with the broadcasting in 1996, which is why Radio CD International took action. Now, a court in Bratislava has decided to block the sale of ST shares until the dispute has been solved. ST is to lose its monopoly of fixed-line telephony in 2002. If the privatisation is delayed, the new owner will profit less from the monopoly and probably pay significantly less for the stake.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
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Scandinavian banks still vulnerable to takeover
Article Abstract:
There is expected to be a spate of merger and acqusition activity within the Scandinavian banking sector, continuing the consolidation of the industry. There is increasing competition in the industry, particularly from larger, global banks, such as Citibank, and a downward pressure on margins. The merger of Kansallis-Osake-Pankki and Union Bank of Finland to form Merita, the largest bank in Finland, was a flagship deal.
Publication Name: Mergers & Acquisitions International
Subject: Business, international
ISSN: 1066-3525
Year: 1995
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