Largest privatisation in Spanish history

Article Abstract:

The privatisation of Telefonica, scheduled to take place on Feb 18, 1997, is attracting strong interest. This has prompted the company to consider cutting down on the number of shares which it will make available to foreign institutions, thus having more available to meet high domestic demand. The transaction, which represents the privatisation of the Spanish government's remaining 20.9% stake in the company, will involve an initial 171 million shares, along with 5 million for bonus share entitlements and 20 million for the underwriters' 'green shoe' over-allotment option.

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Egypt plans to fast track telecoms

Article Abstract:

Egypt's National Telecommunications Organisation (Arento) is currently guaranteed a monopoly by law, but this situation is set to change by the end of 1997 as the privatisation of the telecommunications sector progresses rapidly. Arento is likely to invite up to 10 international and local concerns to submit proposals for two pay phone licences which are set to be awarded by mid-1997. It is also planning significant expansion, including increasing the capacity of the fixed telephone network to up to 5.5 million lines.

Egypt, ARENTO

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Telefonica's retail success

Article Abstract:

The privatisation of Spanish telecommunications concern Telefonica has been extremely successful, and will play a key role in creating a new investment culture in Spain. The government will gain $4.2 billion from the sale of its remaining 20.9% in the company, with more than 1.2 million retail investors participating in the flotation. Analysts believe that the success of Telefonica's privatisation creates a positive climate for the privatisation of Argentaria, Repsol and Endesa.

Securities, Spain

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