Endesa, Fenosa y BCH acuerdan vender la mitad de su 30% de Airtel en la OPV
Article Abstract:
The Spanish electricity companies Union Fenosa and Endesa have announced the sale of the stakes they hold in the mobile phone operator Airtel (8.14% each). Such operation will be also joined by Banco Central Hispano (BCH) which owns a 14% quota of Airtel. The move, which represents nearly 30% of the capital (valued at Pta 300,000mn), is justified by the award of the third mobile phone licence in Spain to Retevision Movil, where both Union Fenosa and Endesa participate (with a 3% and a 3.5% stake, respectively) and BCH will become partner. This operation will not be effective until Airtel shares issue (planned in Spring 1999); in that moment, the three shareholders will sell 50% of their stake and will maintain the rest (to be sold in better moments). Union Fenosa and Endesa have already abandoned Airtel's Board; the same will do BCH. The operation will make possible to restructure Retevision Movil's shareholdership (40.1% owned by Retevision and 39.1% by Telecom Italia), as these companies are said to increase their stake in the operator. At the same time, a capital restructure could also take place in Airtel where Airtouch holds a 21.7% quota and BT a 16% stake.
Comment:
Announces sale of 14% stake in mobile phone operator Airtel
Publication Name: Gaceta De Los Negocios
Subject: Business, international
ISSN: 1134-3931
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Serunion compra una empresa de 'catering' y otra de 'vending'
Article Abstract:
Spanish catering company Serunion reportedly has acquired two unidentified companies, one in the vending business and another in the catering business, aimed at doubling sales by the year 2001 to Pta 14,500mn. The company is predicting a 10% growth on sales in 1998 to Pta 8,500mn. Serunion is said to be looking for a local partner in Portugal to operate Pransor cafeterias to be set up in seven service areas along Portuguese motorways.
Comment:
Acquires 2 unidentified cos, one in vending bsns & another in catering bsns, aimed at doubling sales by 2001 to Ptas14,500 mil
Publication Name: Gaceta De Los Negocios
Subject: Business, international
ISSN: 1134-3931
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: AON launches pensions division Ombudsman overwhelmed by surge in Pep complaints
- Abstracts: Holiday negocia con Metrovacesa abrir 70 hoteles en Espana Riu negocia con TUI la toma de gestion de 25hoteles Iberotel
- Abstracts: Azkaar negocia alianzas con empresas del sector La belga CMB negocia la construccion de un barco de 40,000 millones en Vizcaya
- Abstracts: Hackman myy Havin ja Sarviksen Saunatecista maailman suurin h yrykylpyjen valmistaja PC-SuperStore ja Mikrolog yhdistyv t
- Abstracts: Fidelitas et AVM fusionnent/ Le Belge RED Laboratories met la derni re main un placement priv