AUSTRIA/E EUROPE: ETEL CONTINUES EXPANSION

Article Abstract:

After having taken over RSL Com Austria, the Irish telecoms company eTel is to end geographic expansion and concentrate on intensifying its operations on the market where it is already active. The company set up in 1999 has branches in the Czech Republic, Hungary, Poland and Slovakia and is building up fibreoptic networks in Budapest, Prague and Warsaw. In its second year of operation, eTel expects a turnover of EUR 100mn. RSL Com Austria, which was sold by the insolvent US parent, is preparing acquisitions on behalf of eTel. The company with 70,000 telephone and 46,000 internet clients expects a turnover of more than EUR 61mn in year 2001, up from EUR 51mn in 2000, when earnings before interest, taxes, depreciations and amortisations were positive.

Asset sales & divestitures, Foreign operations, Ireland, Eastern Europe

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AUSTRIA: MCN SEEKING DEAL WITH CREDITORS

Article Abstract:

The Austrian telecom and internet service provider MCN AG (Millennium Communication Network) is to seek a 40% composition. The company has made about 100 of its 146 staff redundant and appointed Otto Peter Arbeiter to manage the restructuring. MCN is to concentrate on company clients and is in talks about selling the private client business. MCN is controlled by Mr Georg Stumpf.

MCN Corp.

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AUSTRIA: MCN DEAL WITH CREDITORS

Article Abstract:

Millennium Communication Network (MCN) has reached an agreement with creditors about a 50% composition. MCN is controlled by Mr Georg Stumpf.

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