Stocks plunge, and Russia moves to sell energy stake
Article Abstract:
The Russian government sought to sell part of its controlling stake in the huge Gazprom natural gas monopoly following rapidly falling stock prices. Industry analysts are questioning whether the sale, which is part of the reform conditions in the recent IMF loan package, will provide much assistance as the government seeks to pull its economy our from under its staggering domestic and international debt. The Yeltsin government will sell 5.87% of its 41% stake in Gazprom, which will be worth about $1.4 billion on foreign markets.
Comment:
The Yeltsin government will sell 5.87% of its 41% stake in Gazprom, which is worth about $1.4 billion on foreign markets
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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France Telecom plans update for Minitel; I.B.M. to develop network for a new on-line service
Article Abstract:
France Telecom plans to update Minitel, its on-line information service, by giving users Internet access through simple, screen-based telephones. The new service, which will run on a network constructed by I.B.M., will enable customers to eschew the complexities of personal computers when accessing the Internet. Jean-Jacques Damlamin, the vice-president for development at France Telecom, stated that the update will not signal the end of Minitel, which serves about 15 million users and hosts about 25,000 services.
Comment:
France Telecom plans to update Minitel via screen-based phones which allow Internet access
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Three media investors seek a stake in Germany's Kirch
Article Abstract:
The Kirch Group, the second biggest media company in Germany, will sell off as much as 25% of the debt-ridden company for about $2 billion to an alliance that includes Mediaset SpA, Rupert Murdoch and Saudi Prince Walid bin Talal. Kirch also will sell its stock to the public and implement a reorganization plan sometime in 1999. Industry analysts, which have estimated Kirch's debt at $1.8 billion, also said that the alliance has plans to focus on commercial television rather than pay television.
Comment:
Will buy a stake in the Kirch Group, the second biggest media company in Germany, along with other investors
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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