Malaysia award on phone work has hit a snag; three business groups said still to have problems tied to compatibility

Article Abstract:

Business groups led by Nokia Corp, Alcatel CIT SA and Fujitsu Ltd have failed to meet compatibility requirements by the appointed deadline for a digital telephone exchange contract with Telekom Malaysia Bhd, the Malaysian telephone company. Malaysia's Ministry of Finance, Telekom Malaysia's primary shareholder, now must decide whether to grant the three business groups an extension, or to let the other two groups, led by Telefon AB L.M. Ericsson and NEC Corp, in the contract take over the entire contract. The five-year contract, which was awarded in Mar 1992, involves installing four million digital-exchange lines and is worth two billion Malaysian dollars, the equivalent of $797.8 million US dollars, which was planned to be split among the five successful bidders. Malaysian officials predicted that contract snag would not delay installation of the exchanges.

Contracts, Malaysia, International trade, Nokia Corp., Digital communications, Digital telephone systems, Fujitsu Ltd., Telekom Malaysia Bhd., Compatibility, Digital Communication, Alcatel-CIT

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U.K. discloses some details of BT sale

Article Abstract:

The UK's government will sell shares in BT PLC, which is the new name of British Telecommunications PLC, hoping to generate proceeds of 5 billion pounds sterling ($8.75 billion). About half the shares are expected to be offered for retail sale to the public. Discounts and special incentives for share buyers will include a special 'discount day,' which will be in late Nov 1991. A prospectus that explains details of the sale is expected in mid-November. The sale will finish in early December. After the retail offer is concluded, institutions will submit bids. Institutions will be selected on the basis of price, volume and quality of bids.

Telecommunications equipment, Securities, BT Group PLC, Communications Equipment, United Kingdom, Stock, Public Offerings

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Russia discloses plans to sell 5% of Gazprom; stake, valued at $500 million, may fetch more

Article Abstract:

In a bid to raise desperately needed government revenues, Russian President Boris Yeltsin ordered the government to put 5% of Gazprom's shares up for sale. Russia's government would thus reduce its ownership stake from 40% of Gazprom to 35%. The rest of the company is owned by private investors and Gazprom itself. With the total company valued at $9.3 billion, the 5% stake to be sold off is valued at nearly $500 million. Analysts believe that the government could get the highest price possible for the 5% stake if it sold all 5% in one block to one strategic investor, rather than in portions to multiple investors.

Comment:

To raise needed revenues, Yeltsin ordered government to put 5% of Gazprom's shares up for sale

Asset sales & divestitures, Gas Utilities, Natural Gas Distribution, Russia, OAO Gazprom, Article

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