Bulgaria sets lofty 1999 targets
Article Abstract:
Bulgaria has set ambitious privatization goals for 1999 despite the fact it did not meet key targets in 1998. Key problems include alleged lack of transparency in the bidding process and the overall poor financial status of the companies for sale, both of which make the nation's industries unattractive to investors. The 1999 target is to privatize two-thirds of state assets and obtain $592 million in revenue in cash and long-term bonds. There are already 1,000 deals in line for completion, of which the most important are the Bulgarian Telecommunications Company, the Neftochim oil refinery, and the Bulgartabac Holding tobacco monopoly as well as some pharmaceutical plants and the Kremikovtski steel plant. Electric utilities, railllways, coal mines, nuclear power plants and the post office will not be sold. Preliminary revenue figures for 1998 were $300 million, far short of the $350 million target set in the 1998 budget.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1999
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UK tidies the cupboard
Article Abstract:
In a bid to complete its privatization program before the forthcoming general election, the UK government is tidying up a number of existing projects. Among them is the privatization of the UK Atomic Energy Authority's engineering arm AEA Technology, which is set to raise around 216 million pounds sterling. Other expected sales include Her Majesty's Stationery Office, the civil service recruitment agency RAS and the defence department's married quarters.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1996
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Spain expects a clutch of privatizations
Article Abstract:
In Spain there has been little privatization activity to date, but it is expected that more movement will be seen in the first quarter of 1997. The government expects privatization receipts in 1997 to reach $7.7 billion. Among the companies scheduled for early privatization are Gas Natural, Respol and Telefonica. During the second half of 1997, the government's 25% stake in bank Argentaria will be sold.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1996
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