Zubair, the privatisation chairman, said if the Sindh government refused to take over, he would re-start the privatisation process.
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The ministry said in a statement it had chosen VTB Capital to organise the privatisation of oil company Bashneft, Sberbank CIB for the privatisation of diamond miner Alrosa and Renaissance Broker for the privatisation of VTB Bank.
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Austerity and privatisation often combine to create a toxic mixture: the government privatises things in order to save money, but tight budgets then discredit privatisation.
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ADP PRIVATISATION Vinci also owns 8% of Paris airport operator ADP and has in the past voiced an interest in participating in any future privatisation of the group.
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"They're looking at the energy sector, at some of our privatisation plans that they might bid for through our privatisation process," Pakistani investment minister Haroon Sharif told Reuters.
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The privatisation process of NLB is due to start this autumn and be completed by the end of 2017, said SDH, which manages state assets and coordinates privatisation.
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Addressing the privatisation proposal made by Kudrin, who is working on Russia's economic development plan, Dvorkovich said it was too early to speak about the privatisation of Russian oil and gas firms.
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"We will not return to this issue (Sberbank's privatisation) in the medium term," Putin told a meeting with Nabiullina and key economic ministers with whom he was discussing privatisation plans for 2016.
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Petrobras has been on a trajectory toward market-oriented policies, efficiency and privatisation, but the strike and debate about price controls has slowed that progress and revealed just how unpopular privatisation would be.
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"The auction for the privatisation of OPZ has shown that the institution (the State Property Fund) is not capable of carrying out effective privatisation," Prime Minister Volodymyr Groysman said in a government meeting.
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Until now, Bavaria had ruled out a privatisation of BayernLB.
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Vinci is a candidate to be involved in that privatisation.
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Then after privatisation in 13 it came under different pressures.
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Nonetheless, airlines argue that privatisation alone is not the answer.
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Vietnam's privatisation is gearing up quickly after years of delay.
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Water bills have risen sharply in real terms since privatisation.
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It's true, we have certain privatisation plans for this year.
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Not all of America's carriers think privatisation is the answer.
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According to polls - more than half of Russians oppose privatisation.
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We believe a privatisation will strengthen the bank's Viability Rating.
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A paper from the World Bank pointed out that in the six years after privatisation in 1989, Britain's water companies invested £17bn in improving supply, compared with £9bn in the six years before privatisation.
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Responding to questions about an ambitious privatisation programme which has run into delays, Padoan told reporters the government's plan had not changed, and sought to calm fears that company strategies could change after privatisation.
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Turki A. Al Hokail, chief executive of the National Centre for Privatisation and Public-Private Partnerships, was speaking as the government formally launched a vast privatisation program focusing on 143 sectors of the economy.
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"Privatisation or partial privatisation of Denel is the only thing that will prevent the total collapse of Denel, not the proposed 20 percent savings on employees' salaries," Solidarity Deputy General Secretary Johan Botha said.
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"This is an important step in the process of privatisation and in fulfilling our commitments to the European Commission," Lidia Glavina, head of privatisation coordinator Slovenian Sovereign Holding, was quoted as saying in the statement.
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Privatisation is also part of the country's plans and the IMF's.
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Hungary is also expecting the privatisation of state-owned Budapest Bank.
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Privatisation is increasingly regarded as a problem rather than a solution.
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This strategy is also being used in the privatisation of Wanda.
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Greece aims at privatisation revenues of 14 billion euros by 2022.
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Many fear privatisation would be a smokescreen for enriching his cronies.
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Of course this will be a much better situation for privatisation.
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Fitch believes that this would ultimately rely on its successful privatisation.
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They say the place is barely recognisable since privatisation in 2013.
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An Australian initiative that combines infrastructure spending with privatisation shows promise.
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Despite Delta's fears, Nav Canada's costs reportedly dropped 30% following privatisation.
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Even the cabinet is a coalition, including ministers wary of privatisation.
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|
His talk of privatisation, deregulation and fiscal discipline has cheered investors.
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It had traded at 48 cents prior to the privatisation announcements.
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Officials say that the bank's privatisation this year is not realistic.
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The last wave of privatisation took place between 2003 and 2007.
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Alexei Ulyukayev, Russia's Economy Minister, was more optimistic about privatisation prospects.
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Next year's budget projects privatisation revenues to reach 2.445 billion euros.
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He did not say what percentage stake would interest the EBRD, but he urged Slovenia to continue privatisation also in other sectors, saying privatisation represented "a huge opportunity for Slovenia's economy to improve its performance and efficiency".
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The privatisation push may not succeed; it will certainly spark political opposition.
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Greece's privatisation agency (HRADF) which is handling the sale declined to comment.
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In March street protesters called for privatisation and deregulation, among other things.
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Instead, he promoted economic change: liberalisation, privatisation, cutting subsidies and building infrastructure.
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HOW CAN national postal services survive after privatisation, deprived of government support?
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Yet if anything, he is expected to trim projected revenue from privatisation.
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The CWU had been extremely vocal in its opposition to the privatisation.
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Ibrahimov did not specify when the bank would be ready for privatisation.
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It is also uncertain whether BAM's regulatory advantages will remain after privatisation.
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SNPA new NHS protection bill to prevent privatisation of the health service.
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Brexit Party: Resist privatisation of the NHS and abolish current healthcare targets.Education
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Investors also questioned Gordhan's revenue targets and the absence of privatisation plans.
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|
Labour did not mention halting the privatisation of RBS in its manifesto.
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|
President Vladimir Putin held a meeting on privatisation on Monday, the sources said, adding that oil company Rosneft , shipping firm Sovkomflot, diamond miner Alrosa and state-controlled bank VTB were also among companies discussed as possible privatisation targets.
|
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The privatisation agency said it will ask the bidder to raise its offer.
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Azerbaijan may launch the privatisation of IBA in early 2018, Sharifov told reporters.
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Take the €8bn privatisation of Hellenikon, the site of the old Athens airport.
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But the key tests, including privatisation of state assets, are still to come.
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"Privatisation is the art of the possible," says Arun Jaitley, the finance minister.
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|
The government targets 8 billion euros ($9 billion) in privatisation revenues this year.
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Privatisation is one of the key reforms promised by Prime Minister Abiy Ahmed.
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|
A 19.5 percent state-owned stake in Rosneft is up for privatisation next.
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|
I'm talking of course of the next phase of the privatisation of Rosneft.
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|
A hoped-for privatisation push under the ruling Bharatiya Janata Party hasn't materialized.
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|
The government has also been eyeing privatisation as a potential source of income.
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|
It is the second time this year that TRAINOSE's privatisation has been delayed.
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|
MOSCOW, June 27 (Reuters) - Privatisation of Russian state shipping company Sovcomflot IPO-SKF.
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DESFA's sale is part of a privatisation programme required under Greece's international bailouts.
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|
The minister did not specify which companies the state might target for privatisation.
|
|
Hellenic Petroleum and Greece's privatisation agency both declined to comment on the action.
|
|
The only whiff of action revolves around the privatisation of air traffic control.
|
|
Fitch will review HSH's ratings when more details about the privatisation are available.
|
|
Avoiding the temptation to squander the proceeds is the first challenge for any privatisation.
|
|
But the much-discussed privatisation of state-owned firms has yet to take place.
|
|
British consultants travelled around Europe and the former Soviet Union offering lessons on privatisation.
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|
Kuwait Airways has been embroiled in political haggling over stalled privatisation plans since 2008.
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|
" After that, if there is a need we can discuss the ways of privatisation".
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|
Back home, he said a planned privatisation drive might "leave Brazil in Chinese hands".
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|
Other emerging economies, including Brazil and Russia, copied the Chinese strategy of partial privatisation.
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|
It is also restructuring state-owned enterprises, with a view to their eventual privatisation.
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|
The plant's privatisation in the 1990s led to a rise in long-term unemployment.
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|
At home, protesters man the barricades at the slightest hint of health care's privatisation.
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|
ETHIOPIA TO DIVIDE STATE TELECOMS PROVIDER INTO TWO BUSINESSES BEFORE PRIVATISATION - STATE-AFFILIATED MEDIA
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Privatisation, if a buyer can be found, will help, but it won't be easy.
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|
Privatisation would force the government to think rigorously about the regulation of postal markets.
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|
AK: Basically when we first had the privatisation in 2007, that was the idea.
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|
Privatisation would be contentious: this month, protests against the sale of PIA turned violent.
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|
AMSTERDAM, June 28 (Reuters) - **Current Dutch Cabinet won't decide on SNS privatisation, says newspaper.
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The privatisation is subject to approval from independent holders of Wanda's Hong Kong shares.
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|
The list includes top brewers Habeco and Sabeco, where privatisation progress has been slow.
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|
The government targets an ambitious 8 billion euros in total privatisation revenues in 2016.
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|
Privatisation, long a taboo, is a possibility for the first time since the 1990s.
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|
Its suasion mostly used example and encouragement, urging supply-side reform, deregulation and privatisation.
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|
Movsumov said the bank was not in talks with the EBRD over its privatisation.
|
|
Adria is one of 15 state firms which were earmarked for privatisation in 2013.
|
|
Privatisation should boost investment and innovation, too, since the profits flow to the owner.
|
|
At privatisation BA's control of valuable slots at Heathrow was a big selling-point.
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|
Hamada said any privatisation plans in Kuwait would not include its oil production facilities.
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|
Ukraine's privatisation programme however has largely stalled with its largest bank, Privatbank, now nationalised.
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|
At the same time passenger numbers fell by 403%, the first dip since privatisation.
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|
He favours the privatisation of all Brazil's state-owned companies and "brutal" simplification of taxes.
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|
A broader privatisation programme would give the government the money it needs to succour demand.
|
|
A chapter in his most recent book is called "privatisation is a synonym for robbery".
|
|
He will push on with privatisation, and seek a less austere agreement with Greece's creditors.
|
|
The NTP will also speed up Saudi Arabia's long-running but slow-paced privatisation programme.
|
|
FRENCH CONSTITUTIONAL COUNCIL SAYS REFERENDUM TO EXAMINE PRIVATISATION OF ADP HAS RECEIVED 480,300 SIGNATURES ONLINE
|
|
Many will appeal to those who have long been fretful about both globalisation and privatisation.
|
|
Targets for privatisation have been missed in nine of the past ten years (see chart).
|
|
A statement from the privatisation commissioner did not provide a time frame for the process.
|
|
Sectors where the privatisation process has been slow include grains, the postal service and healthcare.
|
|
Yet progress towards many essential reforms, including the privatisation of state firms, has been slow.
|
|
Italy is running behind on its 2017 goal of 3.4 billion euros in privatisation proceeds.
|
|
Greece's privatisation agency currently holds 65 percent in DESFA and Hellenic Petroleum owns the rest.
|
|
Falling Bankia share price has made privatisation less likely, Spanish newspaper Cinco Dias said Thursday.
|
|
There may be little case for turning back the clock to the 1980s, before privatisation.
|
|
Part of it is to prepare the institution and its abilities in anticipation of privatisation.
|
|
Royal Mail started its own defined benefits pension scheme in 2012 ahead of its privatisation.
|
|
It also called for more privatisation while urging state-owned firms to improve their management.
|
|
"Next week we will file an official request for a change of the obligation regarding NLB privatisation ... I expect that we will propose to delay the privatisation till the end of 2018 and into the year 2019," Cerar told reporters in Brussels, according to STA.
|
|
The country has strongly reduced its control over the banking sector since then, mainly through privatisation.
|
|
Next on the "privatisation" chopping block is a 19.5% stake in Rosneft worth some $11 billion.
|
|
Then a plan to levy tolls on a new road built with the privatisation proceeds failed.
|
|
In contrast, private toll roads are a feature of Australian life but water privatisation remains controversial.
|
|
But grain industry sources have said the lengthy privatisation process has since discouraged some potential bidders.
|
|
He said Greek privatisation agency HRADF "will be notified tomorrow morning", or Tuesday, about the decision.
|
|
Russian Economy Minister Alexei Ulyukayev said on Wednesday legal advisers had been chosen for Rosneft's privatisation.
|
|
Lawmakers said the deficit would covered via borrowing, privatisation proceeds and loans secured for specific projects.
|
|
The Russian government seized Sistema's stake in Bashneft in 2014, saying its privatisation had been illegal.
|
|
MI Rome, at Senate motions on partial privatisation of state railways Ferrovie dello Stato (1003 GMT).
|
|
"That could be a disincentive for privatisation," said Charles Robertson, global chief economist at Renaissance Capital.
|
|
"This privatisation looks as if intended for big businesses," a source in the financial market said.
|
|
Debt-reducing operations such as privatisation (EUR21103bn by 220) are not incorporated in Fitch debt dynamics.
|
|
"The consortium is in principle interested to take part in the privatisation of Aluminij," Pandza said.
|
|
The new prime minister then unblocks privatisation and investment projects that have been stuck under Tsipras.
|
|
Equity issues are booming in the Southeast Asian country as it speeds up a privatisation drive.
|
|
The government hopes that privatisation will allow the state to cease financial support for Saudi Postal.
|
|
Saudi Postal's president, Mohammed al-Abdul Jabbar, described the centres as "fundamental" to the privatisation process.
|
|
The privatisation agency holds a 30% stake in the airport, with the government owning another 25%.
|
|
Privatisation can also provide a cosmetic accounting benefit, by keeping costly infrastructure investment from pushing up deficits.
|
|
Brazil's main equity index rose 4.6 percent on the news of privatisation-keen Bolsonaro's first round result.
|
|
The public-relations fiasco has helped stoke the fiercest backlash against the industry since privatisation in 1989.
|
|
Water bills have risen sharply in real terms since privatisation, in part to pay for higher investment.
|
|
The budget outline says privatisation would make air traffic control "more efficient and innovative while maintaining safety".
|
|
Kuwait, meanwhile, could be forced to revive plans for the delayed privatisation of loss-making Kuwait Airways.
|
|
Rising rail fares and poor service quality on some lines have dented public support for rail privatisation.
|
|
This put a black mark on Anatoly Chubais, the architect of Russia's privatisation wave in the 1990s.
|
|
The regulator first announced privatisation plans, which include air traffic control and information technology units, in November.
|
|
Italy's privatisation push has stalled after the successful market listing of the post office late last year.
|
|
Yet the supply of power has failed to respond as hoped in the two years since privatisation.
|
|
The grains privatisation committee will start accepting expressions of interest from potential bidders starting Thursday, it said.
|
|
Sistema controlled Bashneft until 2014 when the government seized its stake, saying Bashneft's privatisation had been illegal.
|
|
CEZ bought the Varna plant in a privatisation tender for 206 million euros ($243 million) in 2006.
|
|
The sale is a part of a government privatisation drive aimed at narrowing the state budget deficit.
|
|
RUSSIA'S FINANCE MINISTRY EXPECTS PRIVATISATION OF TRANSNEFT AND RUSSIAN RAILWAYS NO EARLIER THAN 2021 - DEPUTY FINANCE MINISTER
|
|
Both Pakistani officials said the IMF had made clear its frustration with the delays to privatisation drive.
|
|
Under European Commission rules on state aid, the privatisation must be completed by the end of February.
|
|
Athens and its lenders also need to reach agreement on who will oversee a new privatisation fund.
|
|
ITALY'S NEW ECONOMY MINISTER SAYS 18 BLN EURO TARGET FOR PRIVATISATION REVENUES IN 2019 "COMPLETELY UNREALISTIC" - PAPER
|
|
Cultivating these would be less politically rewarding than privatisation, which allows governments to trade responsibility for cash.
|
|
The privatisation agency's board and the board of Hellenic Petroleum met on Thursday and accepted Snam's offer.
|
|
Kaztel appeared in the government's shortlist for the privatisation and may be sold to a strategic investor.
|
|
The government is targeting 13 billion euros in total privatisation revenue in 2016 and ENAV IPO-ENAV.
|
|
The opposition Labour Party, which came to back privatisation in the 1990s, wants to renationalise the network.
|
|
A bank will "probably be first because they have history of reporting," which makes the privatisation process easier.
|
|
It is also hoping to bid for Indian deals, with about 50 airports being considered for potential privatisation.
|
|
He championed privatisation, but like most Middle Eastern leaders used it to bolster his cronies and closer relatives.
|
|
This "loans for shares" privatisation undermined the legitimacy of Russian capitalism and compromised the idea of property rights.
|
|
He added e the government is considering using state lender CDP in its privatisation drive for this year.
|
|
The privatisation of utilities, which began in the 1980s under Margaret Thatcher's Conservatives, has been a divisive issue.
|
|
It was not clear whether NLB would have to sell NLB Vita once the privatisation process was completed.
|
|
But even defenders of railway privatisation concede that the model chosen in the 1990s has not worked well.
|
|
Local capital markets are too small to absorb a privatisation programme so attracting foreign money will be vital.
|
|
Some part of common equity will be replaced with subordinated debt as the bank prepares for its privatisation.
|
|
Some parts of common equity will be replaced with subordinated debt as the bank prepares for its privatisation.
|
|
Workers have hit back with complaints the SNCF was being dismantled to pave the way for a privatisation.
|
|
Much of the conflict within the VA has been over the degree of privatisation of veterans' health care.
|
|
International airport operators including Flughafen Zuerich are evaluating India's privatisation plans for six airports, business daily Mint reported.
|
|
Potential privatisation of stakes in state companies could be a source of funds, but progress may be slow.
|
|
Greece's privatisation agency holds a 30 percent stake in the airport, with the government owning another 25 percent.
|
|
FACTBOX - Saudi Arabia's privatisation plans The selloff, including five percent of Aramco, is intended to improve state finances.
|
|
The hardline union said it was against the sale which it said was a first step towards privatisation.
|
|
But a second source said APE had "very likely organised things" for ADP to be the first privatisation.
|
|
The state plans keep control of the majority of the stock and earlier privatisation plans have been shelved.
|
|
The privatisation agency holds a 30 percent stake in the airport, with the government owning another 25 percent.
|
|
The talks, at a central Athens hotel, will focus on Tuesday on energy reforms and a privatisation fund.
|
|
Paloma is one of about 30 companies whose privatisation was due to start or be completed this year.
|
|
NLB, which was rescued by the state in 2013, is trying to consolidate its business ahead of privatisation.
|
|
The bourse has been planning the move for a couple years, saying privatisation was key to its revival.
|
|
State-controlled lender Bankia, whose privatisation Podemos has been against, slipped 4.5% after the coalition deal was announced.
|
|
Kone, speaking after a cabinet meeting in the commercial capital Abidjan, said the government was expanding the privatisation.
|
|
In the 26 years since privatisation the franchising regime has changed little, but rail reliability has fluctuated widely.
|
|
The offering would be the first IPO this year in Morocco and the first ever for a privatisation.
|
|
Poland, where state control over the economy remains significant, has also called a halt to its privatisation programme.
|
|
The government has previously indicated that a privatisation of FDJ could raise around 1 billion euros ($1.1 billion).
|
|
Telecommunications minister Mohammed al-Suwaiyal last year said that its privatisation was likely to start by early 2017.
|
|
Management also plans to maintain its wind-down efforts in cooperation with the new owner after the privatisation.
|
|
Centrist Prime Minister Juha Sipila had hoped to offset the rise by cutting services and stepping up privatisation.
|
|
RUSSIAN C.BANK FIRST DEPUTY GOVERNOR SHVETSOV SAYS WE ARE AGAINST FIXED DEADLINES FOR THE PRIVATISATION OF OTKRITIE BANK
|
|
It called for a faster pace of privatisation and a more aggressive policy to attract foreign direct investments.
|
|
Its preferred shares, issued as part of a privatisation in 1995-1996, account for 22 percent of its equity.
|
|
The bank said in November its financial recovery was complete and it would be ready for privatisation in 2018.
|
|
The Constitutional Council on Thursday approved plans for a referendum that will delay, and could block, the planned privatisation.
|
|
Mr Bolsonaro's enthusiasm for privatisation does not extend to Petrobras, the state-controlled oil company, or to electricity generation.
|
|
Exhaustion with privatisation and austerity coincides with a growing feeling that British capitalism is rigged in favour of insiders.
|
|
It has moved into parcels and logistics, which is something its German counterpart, Deutsche Post, also did following privatisation.
|
|
It would also allow full or partial privatisation of railways, sugar factories, industrial parks, hotels and some manufacturing firms.
|
|
Its privatisation push aims to reduce the presence of the state in the economy to 15 percent by 2021.
|
|
By the time Egyptians overthrew Mr Mubarak in 219, though, privatisation had become synonymous with corruption and job losses.
|
|
Over the years we have also championed many controversial causes, from privatisation to drug legalisation and same-sex marriage.
|
|
They know how the French romanticise their railways as a jewel of state planning, and disdain British-style privatisation.
|
|
Little is known about Dr Jackson's policy positions, but Mr Trump could have nominated an outrightly pro-privatisation candidate.
|
|
If the privatisation is not successful, HSH's shareholder structure will be unchanged and the bank will be wound down.
|
|
One state company helping another conduct a privatisation is likely to be disputed among some members of the government.
|
|
According to two sources, the state equity agency has picked Bank of America-Merrill Lynch to manage the privatisation.
|
|
BBK has also been set by the authorities for partial privatisation (a 25% ownership stake has been earmarked recently).
|
|
Investors who had been hoping for a new round of Russian privatisation to raise cash may also be disappointed.
|
|
Chief Executive Alexander Picker said management's primary task in the privatisation process was to maintain and increase bank's value.
|
|
Royal Mail made its London market debut here in 2013 - at the time Britain's biggest privatisation for 20 years.
|
|
A stalling economy or another financial shock could well force the country's leaders to reconsider their ambivalence about privatisation.
|
|
Oil Minister Tarek al-Molla said last year that eight petroleum companies were among those being considered for privatisation.
|
|
The bondholder group said in a statement that "to date" they had been "strongly supportive of the privatisation process".
|
|
The privatisation agency official gave no indication of how much Athens hopes to raise from the toll road tender.
|
|
The 2016 budget, approved before the new plan, envisages only about 33 billion roubles ($416.19 million) in privatisation revenues.
|
|
"The topic is stated in the privatisation programme, but there is no practical talk about it now," said Moiseev.
|
|
Passenger numbers have risen by almost 120% since privatisation, twice the increase in the next-best big country, Spain.
|
|
The country's privatisation agency has shortlisted Anglo-Swiss Glencore Energy and Switzerland's Vitol Holding for the stake in Hellenic.
|
|
Pallez said the government had indicated that a privatisation of FDJ could raise around 1 billion euros ($1.1 billion).
|
|
Labour has previously said it will halt the privatisation of Royal Bank of Scotland if it comes to power.
|
|
"If we look at the privatisation programme, you will find processing centres among the primary projects," he told reporters.
|
|
A government report last September said it topped the near-term privatisation list due to its "urgent funding needs".
|
|
The Saudi Telecom deal may be a step towards privatisation deals, but the authority did not mention the issue.
|
|
The next milestone in the transformation in the financial sector will be the privatisation of state-owned Budapest Bank.
|
|
The budget deficit, excluding privatisation revenue, is expected to stand at 4.1% in 2019, according to the central bank.
|
|
It raises hopes that foreign direct investment will remain buoyant and that Modi can push through more changes, including privatisation.
|
|
Eligible firms must have strong experience in the privatisation of banks and can also form a consortium, the statement added.
|
|
The brewer has received expressions of partnership interest from several major foreign brewers since it was first slated for privatisation.
|
|
Mr Putin says that the government has already approved the unorthodox plan, calling it an intermediate step before real privatisation.
|
|
Thatcher dreamed of "rolling back the frontiers of the state", in a self-reinforcing programme of privatisation and cost-cutting.
|
|
Since privatisation, the distance travelled by passengers has doubled, but the amount of track has remained the same (see chart).
|
|
Spokesman for Igor Shuvalov, first deputy prime minister in charge of privatisation, was not available for comment late on Monday.
|
|
The European Commission in 2018 made the sale of NLB Vita a condition for delaying state-backed NLB's partial privatisation.
|
|
Jonathan Ashworth, the shadow health secretary, has warned that a trade deal could lead to "stealth privatisation" of the NHS.
|
|
Dar said the government had held meetings with unions on the airline privatisation and planned to push the plan forward.
|
|
The sale of a 20 percent slug of state-controlled electricity provider PV Power is the country's latest successful privatisation.
|
|
State media, meanwhile, love to use the example of one firm, Shanghai Jahwa Group, to prove the ills of privatisation.
|
|
Privatisation of the flour milling sector is seen as a litmus test for other large state asset sales to follow.
|
|
Macron wants the SNCF to make a profit but says the reforms are not about preparing the company for privatisation.
|
|
The new president's powerful economy minister, Paulo Guedes, promises liberal reforms, including privatisation and opening Brazil to trade and competition.
|
|
From 2014, Grounds's UBS advised the government on Australia's biggest privatisation sale, the electricity infrastructure of New South Wales state.
|
|
The sale stirred no controversy and the country's new and centrist president, Emmanuel Macron, could next opt for full privatisation.
|
|
Officials close to the government's privatisation agenda said suitors offered barely $100 million for PSM against an expected $900 million.
|
|
For all the IMF's frustration over the privatisation delays, the government has pushed ahead on other reforms, Pakistani officials said.
|
|
But the subject was the part-privatisation of Saudi Aramco, the world's biggest oil company, whose board he also chairs.
|
|
Hopes that privatisation might return the commanding heights of India's economy, nationalised in the 1960s, to private hands have dimmed.
|
|
Privatisation this year, focusing on some big firms, is expected to bring in up to 800 billion roubles if successful.
|
|
Infrastructure and Transport Minister Graziano Delrio speaks before Senate Transport Committee on state railways Ferrovie dello Stato privatisation (1003 GMT).
|
|
Lombard was head of the firm when more than 30 employees committed suicide during that period, a decade after privatisation.
|
|
The Bashneft privatisation, the most significant sell-off of Russian state assets in years, had been postponed indefinitely in August.
|
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Before the company's recent results and dispute over its privatisation, analysts had valued the business at about 3 billion euros.
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As part of his privatisation agenda, Mr Mnuchin wants government support for the housing market to be made more explicit.
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ISTANBUL, May 6 (Reuters) - Turkey will collect bids in a tender for the privatisation of its national lottery by Aug.
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He also said Slovenia will continue with privatisation to attract strategic investors which will improve the performance of its companies.
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The government aims to raise 560 billion rupees ($8.35 billion) through privatisation this fiscal year, and shut down some companies.
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"It's too early to talk about privatisation," Rustam Tahirov, strategic services department head at Financial Market Supervision Agency, told Reuters.
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And thanks to the privatisation of energy in this country, switching your provider is a remarkably easy thing to do.
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Privatisation is different, as it involves an asset (such as British Airways) being transferred from the state to the private sector.
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The budget deficit, excluding privatisation revenue, is expected to reach 4.1% in 2019 from 3.7% in 2018, the central bank said.
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Sidi Kerir Petrochemicals rose 26 percent after it was named among companies that will float more shares under a privatisation scheme.
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He has backed away from proposals for radical changes to insurance and the national health system that critics likened to privatisation.
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The unexpected deal, the largest in an ambitious Russian privatisation plan, delivers Vladimir Putin and Igor Sechin, Rosneft's boss, a victory.
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The CVA, which is careful to avoid the word privatisation, would like to push the VA further in this direction regardless.
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Do you see that in any way changing the economic programmme that included reforms like privatisation of key stakes including VTB?
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And a wave of privatisation is sweeping Europe, where nearly half of terminal capacity is now owned by the private sector.
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The bank is selling off its non-core business in order to streamline its business and increase profit ahead of privatisation.
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One reason why privatisation has failed to improve Nigeria's power supply is that the process itself was flawed from the start.
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The asset sale is part of a privatisation programme undertaken by Greece under the terms of its multi-billion euro bailout.
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The finance ministry and state investment firm Slovenian Sovereign Holding (SDH), which is in charge of privatisation, gave no immediate comment.
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In August, the power firms warned they would shut down supplies unless the government paid bills due from pre-privatisation days.
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Tata, which tried to buy the airline in a failed privatisation process a decade and half ago, has declined to comment.
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A government that describes itself as "pro-market" should also lay out a path to the privatisation of state-owned lenders.
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Next, says Bagehot, Thatcher "poisoned the well of privatisation by selling off nationalised monopolies in ways that favour investors over customers".
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Ibrahimov said it was necessary "to ensure the development of the bank and to increase its market value" before planned privatisation.
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Privatisation Commission Chairman Mohammad Zubair, who is a member of Sharif's ruling party, said the government would remain the major shareholder.
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However, plans to sustain long-term efficiency gains through privatisation have been delayed due to objections from workers and political opposition.
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The source did not say when the placement of the stake with investors, part of Russia's privatisation programme, would now happen.
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HSH Nordbank bonds sold off after the German Landesbank said its forthcoming privatisation would also include measures to "optimise" its liabilities.
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MI) their businesses in Russia would be successful after they took part in the privatisation of a stake in Rosneft (ROSN.MM).
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The privatisation of France's two biggest regional airports had been expected to yield up to 1.6 billion euros for the government.
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Eneco forecast full-year earnings would be "substantially lower" because of ongoing investment costs and costs related to its planned privatisation.
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Saudi officials include public-private partnerships to build and operate infrastructure as well as asset sales in their definition of privatisation.
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State-controlled Rosneft bought 13 percent in Bashneft for 329.7 billion roubles last month as part of a government privatisation scheme.
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The government sold tiny stakes in Airports Corporation of Vietnam to private investors in 2016 as part of that privatisation process.
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Another privatisation expected to take place in 2020 is the sale of a 65% stake in Greece's largest gas utility DEPA.
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Hatzidakis said the next steps included the partial privatisation of PPC's power distribution grid and legislation for a more flexible governance.
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State-owned Sabeco has received interest from several major foreign brewers since the government earmarked it for privatisation several years ago.
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In addition, its Issuer Default Ratings (IDRs) post-privatisation would also depend on the new owner's ability and propensity to support.
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Abiy has enacted major policy shifts including the partial privatisation of the state-run telecoms monopoly and state-owned Ethiopian Airlines.
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If the privatisation is successful HSH's regional state owners will no longer be majority shareholders and would only be allowed to own a combined share of up to 25% for a period of up to four years, and following a privatisation Fitch would likely consider the public sector owners' stakes in HSH no longer a strategic investment.
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His plan, known as Saudi Vision 2030, is a radical programme of privatisation (cuts in subsidies and investments in non-oil industries).
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They have given the Labour Party an excuse to demonise Conservative reforms as "backdoor privatisation" rather than subjecting them to serious criticism.
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"It is the largest privatisation deal, the largest sale and acquisition in the global oil and gas sector in 219.5," Putin said.
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He also put emphasis on restructuring state-owned enterprises and privatisation under a plan to sell more shares in them this year.
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Le Maire sought to play down the setback, saying he saw the referendum as an "opportunity" to explain better the privatisation plan.
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This could produce a new wave of privatisation of public policy, or worse, could automate policymaking, reducing the need for democracy overall.
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Beveridge published his outline of the welfare state in 1942; Thatcherite think-tanks busied themselves drafting blueprints for privatisation throughout the 1970s.
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Mr Vajpayee created a ministry for privatisation; the one big sale under Mr Modi, of Air India, failed for lack of buyers.
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"It is the largest privatisation deal, the largest sale and acquisition in the global oil and gas sector in 210.2," Putin said.
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Indian critics of privatisation, who far outnumber its fans, point out that private companies often seem little better than state-run ones.
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Doctors and teachers are demonstrating against plans to restructure the ministries of education and health, which they say will lead to privatisation.
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In the early 211s, as part of a wider privatisation policy, the World Bank insisted that vanilla prices be allowed to float.
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Those privatisation proposals form part of a broader strategy to raise cash to boost the economy and finance technological innovations in France.
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Prince Muhammad is weakening all three by concentrating power in his own hands, pushing for social freedoms, and imposing austerity and privatisation.
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"Over the last 20 to 25 years, for most national airlines the move has been to privatisation and not nationalisation," Seymour said.
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"We have got some of the best infrastructure in the world I think in Australia largely because of the privatisation," he said.
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IFC is advising GACA on the privatisation of King Abdulaziz International Airport, as well as the new Taif Airport, aimed for pilgrims.
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France would keep around 1003 percent of ADP in any ADP privatisation deal, French government spokesman Benjamin Griveaux told France Info radio.
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Economy Minister Giovanni Tria said on Thursday he was not sure Italy would achieve its 18 billion euros privatisation target this year.
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Under its bailout-mandated privatisation scheme, Greece should have launched the sale of its 65 percent stake in DEPA earlier this year.
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Implementation of taxation, privatisation and broader public-sector reform is taking time, even as the potential for spending cuts is being exhausted.
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"It makes sense to focus more on putting that corporate DNA, leadership and resources, then think about a complete privatisation," said Alswaha.
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ATHENS, May 5 (Reuters) - Greece's privatisation agency (HRADF) has appointed executive director Lila Tsitsogiannopoulou as its new chair, it said on Friday.
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The FDP has long opposed state ownership of listed companies but the SPD and CDU have always rejected its calls for privatisation.
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RUSSIA'S FINANCE MINISTRY PROPOSES TO MAKE TRANSNEFT, RUSSIAN RAILWAYS, AEROFLOT, ROSSETI AND RUSHYDRO PART OF 2020-2022 PRIVATISATION PROGRAMME - DEPUTY FINANCE MINISTER
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Ukraine must enact viable pension reform, improve the privatisation process and tangibly reduce corruption to receive the next tranche of IMF loans.
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Greece's second largest lender, National Bank, which owns most of the shares, and the country's privatisation agency (HRADF), will get the proceeds.
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Yet Mr Macron's move has been even more dismaying for those at home who want the state to get on with privatisation.
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The PPP opposes the privatisation of PIA and Pakistan Steel Mills, saying they can be restructured and revived, rather than sold off.
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ATHENS, June 28 (Reuters) - Greece needs to step up its privatisation programme, the country's deputy finance minister George Chouliarakis said on Wednesday.
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But in a U-turn, Deputy Prime Minister Igor Shuvalov said on Friday steps to resume the privatisation would be taken immediately.
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New Delhi will likely raise around 300 billion rupees from privatisation of state-owned companies in this fiscal year, the official said.
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LabourPromise to oppose any privatisation or sell-off of the NHS as part of a Brexit deal with US President Donald Trump.
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From the rowdy beanfeast that was privatisation he ended up owning 1,500 businesses in the city and a stake in 300 more.
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"The consolidation of the ownership structure has been completed ...in line with the ongoing privatisation procedure," the ministry said in a statement.
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"The French Finance Minister Bruno Le Maire said, "the monetary sovereignty of countries is at stake from a possible privatisation of money . . .
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Elhedery said the planned listing of a "jewel" like Aramco is a strong example of Saudi Arabia's commitment to the privatisation programme.
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The deal is an important part of a Greek privatisation scheme under a post-bailout agreement between Athens and its international lenders.
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Privatisation agency HRADF had invited suitors for TRAINOSE, the sole provider of rail services in Greece, to express interest from Feb. 1.
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MOSCOW, Feb 2 (Reuters) - Foreign investors are welcome to take part in Russian privatisation, Kremlin spokesman Dmitry Peskov told reporters on Tuesday.
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Legally the ADP privatisation could be blocked if 10% of registered French voters, or 4.7 million people, sign the petition by March.
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In April, anti-corruption agency CBA raided the Warsaw offices of and its majority owner Kulczyk Holding in an investigation into the privatisation.
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The Commission also estimates that a planned privatisation plan will have no impact on Italy's growth, in contrast with Rome's more optimistic estimates.
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Russia included a sale of a stake in Rosneft, the world's biggest listed oil producer by volume, in its privatisation plan for 2016.
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Share listings and equity offerings are booming in Vietnam as the country speeds up its privatisation drive, supported by a strong stock market.
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The initial public offering is part of a wider 8 billion euro ($8.9 billion) Italian privatisation plan aimed at cutting the country's debts.
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The partial privatisation of Japan Post and its banking and insurance divisions last year raised a combined 1.4 trillion yen for the government.
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Poland sold a 10-percent of stake in KGHM in 2010 for over 2 billion zlotys as part of a broad privatisation plan.
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A looming privatisation is likely to make Saudi Aramco, the only oil company that is bigger than ExxonMobil, into an even stronger competitor.
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But Royal Mail's shares are a long way off their post-privatisation peak in January last year, having dropped by about 46 percent.
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Slovenia is now proposing to name an independent caretaker for NLB in exchange for getting the Commission's approval to delay the bank's privatisation.
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As a congressman for 27 years, he repeatedly voted against privatisation and pension reform, and for increases in the wages of public servants.
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Italy's state railways Ferrovie dello Stato last week submitted the sole binding bid for TRAINOSE, which is being sold under Greece's privatisation programme.
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RIYADH, Dec 19 (Reuters) - Saudi Arabia's economy minister said on Wednesday five sectors are prepared for privatisation in the first quarter of 2019.
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In the future, privatisation proceeds will be invested in corporate assets around the world, generating income and obtaining access to technology and expertise.
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Banks recently submitted bids to advise on the privatisation of Saline Water Conversion Corporation's $7.2 billion Ras Al Khair desalination and power plant.
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Saudi Post Corp's privatisation, which had at one stage been earmarked to begin early this year, has been shelved for the time being.
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From health and education to state-owned companies, the new Saudi leadership is looking for privatisation and the private provision of public services.
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SDH had said it would start the privatisation of NLB after the release of NLB's 2016 results, which are due on March 6.
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Slovenia's privatisation coordinator Slovenian Sovereign Holding (SDH) said on Wednesday the decision on whether Telekom would be sold had not been made yet.
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Private equity groups Apollo, Cerberus and J.C. Flowers last month submitted binding bids for the bank as part of the EU-enforced privatisation.
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France kicked off the privatisation of both airports in March as part of plans to raise cash to help meet budget deficit targets.
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Progress will be slower on more comprehensive measures such as a new public sector wage law, privatisation and VAT and excise tax laws.
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More broadly, privatisation has been no disaster: since the process began in 1994, annual passenger journeys have increased by 130%, to 1.7 billion.
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A privatisation of the Goiás state energy utility, planned for August 19th, was cancelled because it failed to attract bids from nervous investors.
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MOSCOW, March 22 (Reuters) - Global banks are interested in taking part in Russian privatisation, Russian Economy Minister Alexei Ulyukayev told reporters on Tuesday.
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To ensure that competition flourished, privatisation would need to go hand in hand with an equally ambitious agenda of legal and institutional reform.
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The Punjab Education Foundation (PEF), another quasi-independent body, oversees some of the largest school-privatisation and school-voucher programmes in the world.
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But potential partners keen to tap rising consumer spending by Vietnam's fast-growing middle class have faced repeated delays in the privatisation process.
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But it forecast its public debt would fall, thanks to revenues from privatisation from which Rome wants to get 1 percent of GDP.
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Japan Post Holdings and the two financial units went public in November through an IPO worth $12 billion, Japan's biggest privatisation since 1987.
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On privatisations, he said the government would push ahead with plans to sell stakes in the 15 companies earmarked for privatisation in 2013.
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"Money is needed urgently," a source in the government said, when asked what brought about the government's U-turn on its privatisation plans.
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A US federal judge has demanded Elon Musk and the Securities and Exchange Commission (SEC) justify their settlement over the Tesla privatisation fiasco.
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He added that the privatisation process could start with state-owned Saline Water Conversion Corporation (SWCC) which both produces water and generates electricity.
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The government will next year offer privatisation projects in the education sector with investments worth around 1 billion riyals, according to the interview.
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Vietnam will seek foreign and domestic private investment to help develop new power plants, and speed the privatisation of state-owned power companies.
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Greece's privatisation programme has seen several delays but it has raised about 4.8 billion euros since Athens signed its first bailout in 2010.
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The government now appears to be dragging its feet on disposals, frustrating some private shareholders and knocking the bank's privatisation ambitions off-course.
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NLB, rescued by the state in 2013, is the largest of about 30 companies and banks whose privatisation is due to start this year.
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"It will however depend on market conditions, we hope there will be market opportunities so that by 2021 the privatisation gets done," Sevilla said.
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"We expect within the day the signing of a memorandum of understanding between the privatisation agency and investors," Olga Gerovasili told a regular briefing.
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Gerovasili said that the transfer of a five percent stake in the country's telecoms operator OTE to the privatisation agency will be addressed later.
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Under Greece's privatisation programme, Hellenic has agreed to sell a 35 percent stake in Greece's gas grid operator DESFA for about 280 million euros.
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The Russian government sold a 10.9 percent stake in Alrosa last year as part of a privatisation programme to plug holes in the budget.
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A sale would follow the 2018 privatisation of another regional bank, HSH Nordbank, and a deal to rescue peer NordLB struck earlier this year.
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He said the ministry would include the privatisation of state stakes in oil firms Rosneft and Bashneft in amended budget plans for this year.
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ADP, which runs Charles de Gaulle and Orly airports outside Paris, is likely to be an early target in President Emmanuel Macron's privatisation drive.
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"There are people that think water is a human right and confuse privatisation with the right to get water under economic terms," Slater says.
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Privatisation has been a priority of Greece's bailouts since 2010, but political foot-dragging and a highly unionised public sector workforce have slowed progress.
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Speaking from the St. Petersburg International Economic Forum in Russia, Kostin said the privatisation would probably take place in 2017 rather than this year.
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But the privatisation was completed in June this year, when the Slovenian government sold another 10% of the bank after selling 65% last year.
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The purpose of Russia's privatisation programme is to attract overseas money to cover a budgetary shortfall caused by low oil prices and Western sanctions.
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But given the complexity, unprofitability and political sensitivity of dealing with the NHS, it seems unlikely that the feared "stealth privatisation" will take place.
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Once implemented, the legislative changes will also help pave the way for the sale of six regional energy companies that are slated for privatisation.
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The Italian group's offer has been approved by the board of Greece's privatisation agency (HRADF) which convened on Thursday to unseal the financial bid.
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He argues that the law is a gateway to school privatisation, and that poor states like Oaxaca should not be held to nationwide standards.
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Mr Ulyukayev had opposed the deal, arguing that Rosneft should not participate in a privatisation effort meant to reduce state participation in the economy.
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The Vinalines disappointment will not have an impact on Vietnam's privatisation push, said Dang Quyet Tien, head of the Finance Ministry's corporate finance department.
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PricewaterhouseCoopers LLP will assess the bank's value for state-owned Slovenian Sovereign Holding (SDH), which manages state assets and coordinates privatisation, by April 15.
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ADP, which runs Charles de Gaulle and Orly airports outside Paris, is expected to be an early target in President Emmanuel Macron's privatisation drive.
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It then issued a new tender to seek a technical adviser on the expected costs and demand linked to the privatisation, the source said.
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Privatisation have been a key plank of Greece's three international bailouts since 2010 but have reaped poor revenues due to political resistance and bureacracy.
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The privatisation was able to get underway thanks to AIB's improving credit fundamentals, helped by falling unemployment, rising property prices and strong economic growth.
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The new plan includes earning non-oil income from private investment and privatisation and setting up the largest sovereign wealth fund in the world.
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So in this case, a greedy investor would not be able to participate in the privatisation You know Russneft is a big package, 19.5%.
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Spain had said it would block disbursement of aid unless Athens granted immunity to the three, who were consultants for the country's privatisation agency.
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Last month, Deutsche Bahn said it had frozen plans for a partial privatisation of Arriva and its Schenker unit due to the Brexit vote.
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He also warns of the danger of fixation on slow progress with certain reforms, such as privatisation, even as the overall trend remains positive.
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As Saudi Arabia prepares for the part-privatisation of Aramco, more data on exploration, production and reserves will have to be published for investors.
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A decade ago, the EU tried to drive politics out of utilities with a push for privatisation and the unbundling of monopoly-owned grids.
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State-owned Slovenian Sovereign Holding (SDH), which is coordinating the NLB sale, could decide on whether to pursue the privatisation on Thursday, sources said.
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The International Monetary Fund also said earlier this month that Slovenia needs to speed up privatisation and encourage private investment to sustain reasonable growth.
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Greece has received two binding bids for a 2225 percent stake in its gas grid operator DESFA, the Greek privatisation agency said on Friday.
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The asset sale is part of a privatisation scheme under Greece's multi-billion euro bailout with the European Union and the International Monetary Fund.
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They said Saudi banks would also be important financial intermediaries in Riyadh's privatisation programme, which is at the centre of Saudi economic reform plans.
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Greece has promised to set up an umbrella privatisation agency to speed state asset divestments and help to raise 5.8 billion euros by 2018.
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India plans to invite international energy firms to participate in the privatisation of state-owned oil companies, oil minister Dharmendra Pradhan said last week.
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New Prime Minister Oleksiy Honcharuk promised quick reforms, including the privatisation of large state companies and lifting a ban on the sale of farmland.
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A government source said the government has been in talks with the union and that the privatisation will be completed within the agreed timetable.
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Some expected transactions under Abiy's drive to open up the economy include the privatisation of state sugar companies, set to take place next year.
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"I have never supported the privatisation of Eskom or the sale of any of its entities or assets," Motsepe said at a news conference.
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For example, it has questioned its predecessor's privatisation of chemicals group Ciech and the sale of some of the state's shares in miner KGHM.
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MOSCOW, March 24 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Thursday he believed that Russia's privatisation programme should be led by three banks.
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CVC said it did not know the content of the motion, nor any circumstances during the privatisation process that would justify filing such a motion.
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The privatisation was criticised by PiS, which said the company was key to Poland's energy security and should not be controlled by a private fund.
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Bashneft's privatisation aimed to help to plug gaps in Russia's budget caused by lower oil prices and Western sanctions over the country's actions in Ukraine.
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Here the gilets jaunes have some common ground with the French Senate, which in February dealt a temporary setback to the government's ADP privatisation proposals.
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He said he would direct the advisory National Council on Privatisation to draw up a "very comprehensive policy as far as privatization of government enterprises".
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Mr Yevtushenkov was later released, but the jockeying for Bashneft continued after it appeared on a list of assets up for privatisation earlier this year.
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In August, the A$140 billion fund was part of a consortium that bought Sydney's WestConnex tollroad for A$9.3 billion, Australia's largest privatisation sale.
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Margaret Thatcher's medicine was a strong dose of competition, by means of privatisation, takeovers, an influx of foreign capital and managers, and plenty of deregulation.
|
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Mr Guedes's support for deregulation, privatisation and, above all, reform of Brazil's unaffordable pension system could provide a tonic that the economy has long needed.
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HSH Nordbank met potential buyers in London in November ahead of the German lender's planned privatisation this year, people close to the matter told Reuters.
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SDH, which is coordinating privatisation, said the sale of NLB through initial public offering should still be completed by the end of 2017 as planned.
|
|
Russian Prime Minister Dmitry Medvedev has postponed the privatisation of mid-sized oil producer Bashneft on Tuesday reporting by Darya Korsunskaya, writing by Denis Pinchuk;
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However, the pace of privatisation so far only matches the rate managed (to little fanfare) late in the term of François Hollande, Mr Macron's predecessor.
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The Kenyan carrier, which is 48.9% government-owned and 7.8% held by Air France-KLM, was once held up as a model of successful privatisation.
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Aramco is central to the Crown Prince's reform plan in several ways, not least because its planned partial privatisation will generate income for the reforms.
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HSH is currently in the midst of a privatisation process and we expect a clearer picture to emerge on final bidders over the coming months.
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Its liquidity metrics remained solid and we expect uninterrupted funding through 2017 in the absence of unexpected shocks to investor confidence during the privatisation process.
|
|
RATING SENSITIVITIES IDRS, SENIOR DEBT AND SUPPORT RATING HSH's IDRs, senior debt rating and SR are primarily sensitive to the likelihood of a successful privatisation.
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There is no contradiction between privatisation and the universal-service obligation, the requirement to deliver to every address in the country for a fixed price.
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MI said on Wednesday it had filed a request to list on the Milan bourse as the government-owned group prepares for a partial privatisation.
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Konzum will take over the fund from private equity investor MINERVA, one of the three buyers who purchased MKB at its privatisation tender last year.
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Earlier on Wednesday, First Deputy Prime Minister Igor Shuvalov said that privatisation of Rosneft, Russia's biggest oil producer, is a key priority for the government. .
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The Moroccan government owns 22% after it recently sold an 8% stake in the company in a privatisation push to curb the country's budget deficit.
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United by a loathing for Italy's tainted mainstream parties, Five Star activists are a heterogeneous bunch, often disagreeing on issues such as privatisation or abortion.
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The bank's public owners are aiming to close the privatisation, which still needs approval from the European Central Bank and the European Commission, in summer.
|
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BIB's capital position benefitted from subordinated debt (USD55m) provided by the authorities in 4Q15, while the bank has been set by the authorities for privatisation.
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PARIS, April 22 (Reuters) - France has extended its bidding deadlines for the privatisation of Nice airport by two weeks, three sources told Reuters on Friday.
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Head of APE says France is still eyeing a spring 2019 privatisation for ADP but adds he is "cautious" over any timetable given market volatility.
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But operations nosedived and the company accumulated bad loans shortly after the government sold its stake via a privatisation to local core investors in 2006.
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Mr Zach owes much of his wealth to the privatisation of Investicni a Postovni Banka (IPB), which took place when Mr Zeman was prime minister.
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But opposition figures on both the left and right are worried that the former investment banker's privatisation push is akin to selling the family jewels.
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He wants President Xi Jinping to embrace a privatisation plan that "sells off all SOEs to the world" over his remaining seven years in office.
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An expenditure plan approved by the Senate on Tuesday showed Nigeria is expected to generate 172.47 billion naira ($564 mln) from privatisation proceeds this year.
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Banking stocks led the market up as the reform plan was announced, since investors think privatisation exercises will benefit institutions with large investment banking operations.
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Siluanov's comment seems to contradict a statement made by a Deputy Economy Minister Evgeny Yelin who said that privatisation of Sberbank is possible in 2017.
|
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The tourism company said it had requested the contract conditions for a Privatisation Administration tender for a 10-year licence to operation the National Lottery.
|
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Russia is planning a privatisation drive this year, hoping to bring between 500 billion roubles ($6.38 billion)and 800 billion roubles into the state coffers.
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Rosneft's lawsuit has spooked investors and rekindled fears from 2014, when the Russian government seized Sistema's stake in Bashneft, saying Bashneft's privatisation had been illegal.
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Greece's privatisation fund, HRADF, had on Tuesday sought an improved bid from Athens International Airport (AIA), which has been operating the terminal facility since 1995.
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The Moroccan government owns 22% after it recently sold an 8% stake in the company in a privatisation push to curb the country's budget deficit.
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Hinai said Oman Air would not be ready for privatisation until its restructuring is completed and that there are no plans to privatise Oman Airports.
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The government will also introduce guarantees on the irreversibility of privatisation deals and reduce the limitation period on such deals to 3 years from 10.
|
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LONDON (Reuters) - Britain's opposition Labour Party unveiled its election manifesto on Thursday, including a sweeping programme of nationalization reversing decades of pro-privatisation public policy.
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The Eurogroup also notes the further progress in the set-up of the Privatisation and Investment Fund - the Hellenic Corporation of Assets and Participations (HCAP).
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The privatisation drive is backed by the International Monetary Fund which hopes it will curb corruption, bolster state coffers and bring in new foreign investors.
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In 2017 Michel Temer, the next president, signed a law that streamlined the privatisation of occupied public lands, which spurred land grabs in the Amazon.
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"We had hoped for a landmark privatisation deal that would be a trampoline for mass privatisations, but most likely (OPZ's sale) will get stuck," he said.
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Privatisation works when firms can run assets or services more efficiently than the government can, or when competition between firms can bring down costs over time.
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Bankers familiar with the privatisation project said the most likely buyers for the Saudi soccer teams appeared to be wealthy Saudi individuals, rather than foreign investors.
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It outlined 12 broad policies, from prioritising labour-intensive enterprises to the privatisation of some state-owned ones, but lacked concrete plans to accomplish the goals.
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Putin has therefore banned Russian state-owned banks from participating in the financing of privatisation deals, which would defeat the aim of bringing in foreign capital.
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The US and UK meetings were "to invite a wide range of those who are interested in (privatisation)", Sberbank First Deputy Chairman Maxim Poletayev told reporters.
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DESFA's sale is part of a privatisation programme required under Greece's international bailouts and is expected to raise 188 million euros for state coffers this year.
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Most of the fiscal adjustment under Syriza has been in the form of higher taxes on middle-class Greeks, rather than cutting spending or new privatisation.
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ATHENS, Oct 21 (Reuters) - Greece's 14 regional airports will be delivered to Germany's Fraport by mid February, the country's privatisation agency (HRADF) chief said on Friday.
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Fares have risen by 45% in real terms since privatisation in the 1990s, causing many passengers to accuse the firms of taking them for a ride.
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MOSCOW, June 20 (Reuters) - Privatisation of state shipping company Sovcomflot has been shifted to the autumn, a source close to the deal told Reuters on Tuesday.
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The light-handed Australian privatisation model, criticised by the country's competition regulator, is just as polarising for industry experts as it is with airports and airlines.
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But many think the purge will remove opposition to Crown Prince Mohammed bin Salman, helping him accelerate economic reforms such as privatisation and big development projects.
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PA, the French power utility, agreed in July to purchase a 64 percent stake in the airport, whose privatisation is expected to raise 1.2 billion euros.
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The Russian government has been considering selling part of its stake in Alrosa, the world's largest producer of rough diamonds, as part of its privatisation programme.
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Berejiklian has worked closely with Baird on the privatisation plans so a promotion to leadership is expected to see a continuation of current NSW economic policies.
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LJUBLJANA, Oct 13 (Reuters) - Slovenia issued a tender for the sale of ladies' tights and stockings maker Polzela on Thursday, part of the government's privatisation programme.
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ANKARA, Oct 13 (Reuters) - Turkey extended the deadline to submit applications for its national lottery tender by another four months, the privatisation board said on Thursday.
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In the late 1990s a wave of privatisation and restructuring saw thousands of smallish state firms disappear and tens of millions of workers lose their jobs.
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Successful experience with privatisation in these industries around the world belies the Communist Party's claim that they are too strategic to be left in private hands.
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Vinci also owns 8% of Paris airport operator ADP and has in the past voiced an interest in participating in any future privatisation of the group.
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Outright privatisation of airports might soon be inevitable, but other changes are likely to come one step at a time, with some in the wrong direction.
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Francesco Caio, a former McKinsey manager, was appointed as CEO of the post office in May 2014 to orchestrate the turnaround and privatisation of the company.
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Egypt hopes the privatisation drive will spur investment and private-sector growth, which has been moribund since an uprising in 2011 that has rocked the economy.
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ATHENS, April 12 (Reuters) - Greece's privatisation agency said on Wednesday it was seeking a financial advisor for the sale of minority stakes in two water utilities.
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Last week, the Spanish government sold a 7 percent stake in Bankia for 818 million euros ($967 mln) as it pushes ahead with its privatisation process.
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GFH is also keen to participate in Saudi Arabia's privatisation programme in sectors such as education and healthcare, Hisham al-Rayes said in a phone interview.
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Economy Minister Pier Carlo Padoan speaks on Poste Italiane privatisation before the Chamber of Deputies Transport Committee (1100 GMT) and before Public Works Committee (1300 GMT).
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Saudi Arabia has unveiled about $200 billion of privatisation of state-owned companies over the next few years, selling stakes in everything from hospitals to airports.
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MOSCOW, Oct 26 (Reuters) - Russian economy minister Alexei Ulyukayev said on Wednesday that the privatisation process of Russian oil giant Rosneft was close to a completion.
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Finance Minister Anton Siluanov has said he hopes for around 1 trillion roubles, or 1 percent of gross domestic product, from privatisation this and next year.
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US District Court Judge Alison Nathan asked on Thursday that both Musk and the SEC supply justification for the settlement reached over the Tesla privatisation fiasco.
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With his recently unveiled privatisation blueprint, new President João Lourenço is taking aim at the 230-year statist grip of his predecessor, José Eduardo dos Santos.
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Royal Air Maroc is likely waiting for profits to improve before it considers privatisation, he added, and "utility companies are not making enough money to privatise".
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The state and its advisers, however, will face charges of underpricing the country's showpiece privatisation by leaving around 600 million euros of value on the table.
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Central Asia's biggest economy has sold more than 120 small and mid-sized firms in its privatisation drive, and has been preparing larger firms for sale.
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If the privatisation process is aborted, which we view as unlikely but still possible, we would expect HSH to be wound down in an orderly manner.
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Deutsche Post, created in 1995 after the privatisation of Germany's postal services, retained the former Postdienst's civil service post officials and contributed to their pension scheme.
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Sofia City Council in July put Municipal Bank on a list of companies set for privatisation after the bank successfully passed the central bank's stress tests.
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"We are very pleased that WPP has shown its support for the privatisation of ADK," David Gross-Loh, Managing Director at Bain Capital Private Equity, said.
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LONDON, March 27.25 (IFR) - Bonds in HSH Nordbank have sold off after the German Landesbank said its forthcoming privatisation would also include measures to "optimise" its liabilities.
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"I think that privatisation should take place only when there are suitable market conditions, right now the situation is difficult," Kostin told state television channel Rossiya-24.
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The Russian government sold a 10.9 percent stake in Alrosa last year raising $813 million to plug holes in the budget as part of a privatisation programme.
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It also operates Saudi Arabia's Madinah Airport, the first airport privatisation project in the kingdom, and would be keen to bid for similar tenders in the Gulf.
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In a televised interview with Rossiya 24 TV channel Khamitov also said that the privatisation of Russia's government stake might take place when the economic situation improved.
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MOSCOW, April 4 (Reuters) - Russia's Economy Ministry said on Monday it had chosen three domestic investment banks to organise the privatisation of large state companies this year.
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UK government is weighing plans that could lead to the privatisation of Land Registry, the agency that records all land and property information in England and Wales.
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L), sees good business opportunities in the housing and financial sectors, in the country's privatisation drive and in projects led by the government's Public Investment Fund (PIF).
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The merger between state companies has not yet been translated into high profitability, while the trial of mixed ownership reform, a kind of privatisation, has also stalled.
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Last month, a senior official with China National Petroleum Corp, one of the largest buyers of Rosneft oil, said that the company was interested in Rosneft's privatisation.
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Italian bank Intesa Sanpaolo was chosen as an investment consultant for Rosneft's privatisation, with White&Chase selected as legal advisers, Russian Economy Minister Alexei Ulyukayev said earlier.
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Cyprus attempted to sell a stake in Cyta last year as part of a sweeping privatisation programme that was part of an EU/IMF bailout in 2013.
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Mrs Thatcher's agenda of deregulation and privatisation found imitators across the world: between 1985 and 2000 western European governments sold off some $100bn-worth of state assets.
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Experts estimate it would take $2.3 billion a year for a decade to expand grid access, which could probably be achieved only by partial or full privatisation.
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The potential privatisation is part of efforts to support Russia's budget as the state grapples with weakness in oil prices that are a cornerstone of the economy.
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Even the free-market wing of the ruling Conservative Party is on board: John Redwood, one of the architects of privatisation in the 1980s, backs a change.
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Having sunk $463m into the red during the first nine months of 2016, it is now on track for its first annual loss since privatisation in 2006.
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After the privatisation, the government pledged to review tariffs as more power is generated and upgrade the transmission network to give more people access to the grid.
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LJUBLJANA, Sept 14 (Reuters) - The sale of Slovenia's largest bank, state-owned NLB, has been postponed until 2017, privatisation coordinator Slovenian Sovereign Holding (SDH) said on Wednesday.
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Tata would "definitely look" at Air India once the government finalised the privatisation process, N. Chandrasekaran, chairman of Tata group's holding company Tata Sons, told the channel.
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State-owned investment fund Slovenian Sovereign Holding (SDH), which is coordinating the privatisation of a 75 percent stake in NLB, refused to confirm or reject the report.
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Two financial market sources told Reuters this month that privatisation of a 25 percent stake in Sovcomflot had been scheduled for early June but was later postponed.
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ATHENS, Oct 17 (Reuters) - Greece has received two expressions of interest for the purchase of ROSCO, its rail maintenance company, the country's privatisation agency said on Monday.
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Kwadwo Sarkodie, a partner at law firm Mayer Brown, which advises governments and international companies in Africa, said Sonangol is the crown jewel of the privatisation drive.
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The privatisation programme, for example, including the planned sale of 5 percent of national oil giant Saudi Aramco, has been discussed for many months with little action.
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Elsewhere in the region, many international banks are also seeking to step up their presence in Saudi Arabia, hoping to capitalise on the kingdom's huge privatisation drive.
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Full plan details and timelines have not yet been finalised, but the privatisation plan suggests the state does not see BAM as a long-term core holding.
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The delay sychronizes the privatisation of Nice, France's biggest regional aviation hub, with the bidding process for Lyon-Saint Exupery airport, which is also on the block.
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Konzum will take over the Metis fund from private equity investor MINERVA, one of the three buyers that originally purchased MKB at its privatisation tender last year.
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Other measures, including tax increases and a revamp of the privatisation agency, are also needed if Athens is to qualify for another injection of bail-out cash.
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In 2013, when the previous government was struggling to avoid an international bailout, it slated 15 firms for privatisation, of which eight have been sold so far.
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After privatisation, the government said it would review tariffs as more power was generated and upgrade the transmission network to give more people access to the grid.
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However, last week it said it was forced to postpone the privatisation of metal products maker Mariborska Livarna Maribor (MLM) due to "insufficient interest" from potential investors.
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Chief Executive Stefan Ermisch warned on Thursday when presenting annual results that the road to privatisation will be difficult and ask a lot from all parties involved.
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Prince Muhammad's plans include abolishing subsidies, raising new taxes, the part-privatisation of public services and an industrial reform involving Saudi Aramco and SABIC, a petrochemicals giant.
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But he adds that to attract investment the government will need to clarify the privatisation plans for its utilities, and show how they can balance their books.
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The European Bank for Reconstruction and Development said in February it could start discussions with the oil-rich country's biggest bank over its privatisation later this year.
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The French government has made proposals to the European commission concerning privatisation of hydro power in France, which could end the monopoly of EDF in this sector.
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Sayanogorsk, Rusal's third biggest aluminium plant, is where Deripaska began buying up workers' shares during Russia's privatisation drive after the fall of the Soviet Union in 1991.
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That firm devours billions in subsidies, but is popular with the public who would not countenance its privatisation, or that of any other firm seen as "strategic".
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UK Health Secretary Jeremy Hunt asked Deloitte to advise on an overhaul of NHS Professionals, a step that could lead to a part-privatisation of the service.
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Last week the government asked the European Commission to approve a change in the privatisation plan for the bank which was rescued by the state in 2013.
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Advocates of the 51/49 ownership rule and tight foreign exchange controls say they helps protect Algeria's strategic sectors after an experimentation with privatisation in the 1990s.
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Posti has been tipped for privatisation by the centre-right government as it looks to sell state-owned companies to finance projects aimed at boosting economic growth.
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The OECD said Slovenia must also improve the management of state-owned enterprises, continue with privatisation and narrow the group of state firms that are considered strategic.
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LONDON, Nov 21 (Reuters) - Britain's opposition Labour Party unveiled its election manifesto on Thursday, including a sweeping programme of nationalisation reversing decades of pro-privatisation public policy.
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The sale is crucial for Greece which emerged from international bailouts in 2018 and is aiming for privatisation receipts of 13 billion euros ($2.7 billion) this year.
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BIRMINGHAM, England (Reuters) - Britain's opposition Labour Party unveiled its election manifesto on Thursday, including a sweeping programme of nationalization to reverse decades of pro-privatisation public policy.
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Vietnam's strong growth prospects, a privatisation drive by the government and successful private sector IPOs over the past two years have attracted many investors to the country.
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After months of feuding, shareholders and Eneco's board had agreed in February that the company would be sold, paving the way for privatisation in the coming months.
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A sale to U.S. steel firm Esmark collapsed last year and Serbia appointed Netherlands-registered HPK Engineering to run it and make it profitable until its privatisation.
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"We would like to support reform in the mining sector... that will help commercialisation and eventual privatisation of some of the assets," Chakrabarti told the same briefing.
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ATHENS (Reuters) - Greece's privatisation agency TAIPED has invited expressions of interest for a 30% stake in Athens International Airport SA (AIA), operator of the country's biggest airport.
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But the privatisation has been long delayed, as management sought a flotation or partial sale, while shareholders wanted to keep all options open, including an outright sale.
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MOSCOW, Feb 13 (Reuters) - The privatisation of Russia's VTB bank will take place when market conditions become "suitable", the bank's Chief Executive Officer Andrei Kostin, said on Saturday.
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State-owned Sabeco, as the Saigon Beer, Alcohol, Beverage Corp is known, is valued by the government at $2 billion and was first earmarked for privatisation in 2008.
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The privatisation deal, which Rosneft Chief Executive Igor Sechin called the largest in Russia's history, was announced by Rosneft in a meeting with President Vladimir Putin on Wednesday.
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The other companies are natural gas company DEPA, biggest oil refiner Hellenic Petroleum, telecoms operator OTE and water companies of Athens and Thessaloniki, the country's privatisation agency said.
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COSCO agreed to buy 23.36 percent of Piraeus Port (OLP) in April for 8803 million euros ($2880 million) under a deal signed with the HRADF, Greece's privatisation agency.
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"The government privatisation program continues to gain traction and the plan for an initial public offering of a stake in Saudi Aramco remains on track," the statement said.
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"It is the largest privatisation deal, the largest sale and acquisition in the global oil and gas sector in 2016," Putin said in televised remarks from the meeting.
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Russia plans a major privatisation push this year in a move to stop the budget deficit expanding beyond the target level of 3 percent of gross domestic product.
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Without shared positions on issues such as privatisation, liberalisation and fiscal policy, a cross-party coalition could find it hard to agree on the economic reforms Italy needs.
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In a surprise move, the Brazilian government said it would privatise Eletrobras, Brazil's biggest power utility, in what could be the country's most lucrative privatisation since the 1990s.
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On March 28th Dame Glenys Stacey, the chief inspector of probation in England and Wales, concluded that the part-privatisation of its system in 2014 was "irredeemably flawed".
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We believe that HSH's profitability is unlikely to materially improve until the bank's future business model has been decided in the event of a privatisation of the bank.
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LJUBLJANA, March 9 (Reuters) - Slovenia's privatisation body has sought a valuation of the country's largest bank, Nova Ljubljanska Banka (NLB), which is due to be sold this year.
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The privatisation process was also incomplete and left the transmission grid (which carries electricity from power stations to the local distribution grids) in the hands of the state.
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"At the start of next year the procedure for the privatisation of the company for the project of Belene nuclear power project should start," Petkova told news conference.
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MOSCOW (Reuters) - China National Petroleum Corporation (CNPC) may consider increasing its stake in Russian state oil firm Rosneft during a planned privatisation program, its chairman said on Monday.
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The fiscal plan will also include a commitment by the government to restart its privatisation plan, after it postponed the sales of several state-owned assets last year.
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The privatisation of NLB, which was bailed out by the state in 2013, is due to start later this year after Deutsche Bank was appointed as financial adviser.
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It is looking at the complete or partial privatisation of more than two dozen agencies and state-owned companies, including the national airline, telecoms firm and power generator.
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Its preferred shares, issued as part of a privatisation in 1995-1996, account for 22 percent of its equity, while ordinary shares are wholly owned by the state.
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Under the privatisation deal with Greece, COSCO must conclude investments of about 300 million euros in five years before buying an additional 16 percent stake in the port.
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Some investors have previously complained about the slow progress of the privatisation, as well as the unwieldy sale process and onerous ownership rules that could deter foreign interest.
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The opposition and unions are already up in arms over a planned overhaul of the pension system and another big privatisation would add further oil to the fire.
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The listing of ADNOC Distribution shares last year after an initial public offer marked a major step by Abu Dhabi National Oil Co towards privatisation of its assets.
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The privatisation of companies such as airports group and FDJ is integral to President Emmanuel Macron's plans to raise funds for innovation projects and boost the overall economy.
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Russian conglomerate Sistema, which holds Yevtushenkov's assets, spent much of last year embroiled in a costly legal dispute with Rosneft over the privatisation of a smaller oil firm.
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Under a privatisation programme agreed with its international lenders, Greece has agreed to sell a majority stake in Astir Palace, which owns the resort, for 400 million euros.
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IBA has earlier planned to be ready for privatisation last year but the Azeri finance ministry said in May it did not plan to privatise IBA this year.
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Signalling post-election intentions, the president called on Tuesday for the privatisation of the 50 percent state-owned car industry - the second biggest sector after oil and gas.
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Another possible privatisation target is Poste Italiane , which floated a 35 percent stake in 2015 and has since seen its share price rise by more than 40 percent.
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The proposal comes as Vietnam has been seeking to speed up its privatisation of state firms in recent years to improve their performance and to fill its coffers.
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PARIS, March 11 (Reuters) - Financial market conditions are not favourable at present for any privatisation of French airports operator ADP, French government spokeswoman Sibeth Ndiaye said on Wednesday.
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When speaking about Russia's privatisation programme, Siluanov said the government should intensify the sale of its stakes in state-controlled companies, which are not crucial for the economy.
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Prime Minister Narendra Modi's government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.
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Pallez's comments echoed those made last week by France's Finance Minister Bruno Le Maire, who had also said the privatisation of FDJ would occur in the coming weeks.
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Greece's privatisation agency said earlier this year that it had accepted an offer by private shareholders in the airport to extend their concession for operating it until 2046.
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"Following a A$1.75 billion privatisation in 2014, the Port of Newcastle increased shipping fees by up to 60% without any change in services to customers," Glencore said.
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SOFIA, Dec 6 (Reuters) - Bulgaria's privatisation agency received just one bid for a 67.65 percent stake in Municipal Bank from Liechtenstein's Novito Opportunities, it said in a statement.
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In April, anti-corruption agency CBA raided the Warsaw offices of chemicals group Ciech and its majority owner Kulczyk Holding in an investigation into the privatisation of Ciech.
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As the experience of some Latin American countries has shown, privatisation before competition (and a robust regulatory framework in place) is a recipe for monopoly and rent-seeking behaviour.
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External commentators have focused on the valuation likely to be realized from a part-privatisation of state-oil company Saudi Aramco but that is the least of the problems.
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Guedes plans to sell as many state companies as possible in a privatisation drive that he forecasts could eventually bring in up to 1 trillion reais (202.3 billion pounds).
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The government is also considering selling stakes in Rosneft itself, which is Russia's top oil major, shipping firm Sovkomflot and diamond miner Alrosa as part of its privatisation drive.
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The communist state has accelerated its privatisation programme in recent weeks, partly because of the need to fund a budget deficit and in the face of growing public debt.
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Mr Cardoso's governments slew inflation, modernised the economy partly through privatisation and pioneered social reforms that Luiz Inácio Lula da Silva of the PT would go on to expand.
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MOSCOW, May 26 (Reuters) - Privatisation of Russia's oil major Rosneft is expected to take place in the second half of the year, Finance Minister Anton Siluanov said on Thursday.
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FOR more than three decades, telecoms policy, at least in rich countries, has been a one-way street: more deregulation and more privatisation in order to foster more competition.
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The reform may reduce government transfers to unprofitable public companies and also paves the way for a possible partial privatisation of some state assets, notably the telecoms operator MTC.
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CEZ acquired 67 percent stake in the power distributor in western Bulgaria in 2004 after placing the highest bid of 281.5 million euros ($303.65 million) in a privatisation tender.
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The ratings could come under pressure if Islandsbanki adopts a higher risk appetite, particularly in light of its future privatisation, for example through loosening underwriting standards or expansion overseas.
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Singapore Airlines CEO Goh Choon Phong told media and analysts in Singapore his airline would not decide whether to support a privatisation until it had received a firm proposal.
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"However, this assumption appears unrealistic, considering that almost no privatisation proceeds were recorded over 2016-2018 despite the original targets of 0.5 percent of GDP per year," it said.
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In the previous auction, the stake had been widely expected to top the Australian privatisation record of A$10.3 billion ($7.9 billion) that was paid for another energy grid.
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"Government advisers have failed to present a revival plan for Pakistan International Airlines (PIA), instead their complete focus is on privatisation," opposition Senator Saleem Mandviwalla said in a statement.
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President Cyril Ramaphosa, who faces a parliamentary election in May, has pledged to reform the utility by splitting it up and providing financial support but has ruled out privatisation.
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Paneuropean Oil and Industrial Holdings are jointly selling the stake in Greece's biggest energy privatisation under the surveillance of its international lenders since its third bailout expired in August.
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The pair were earmarked for privatisation almost a decade ago as part of a nationwide program to trim stakes in state-owned enterprises, many of which have low profitability.
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The lease plan is part of the Australian government's ambitious privatisation program, seeking to raise A$100 billion ($76 billion) to help cut debt and upgrade the country's infrastructure.
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Reform of "product markets" aims to boost competition among firms, through privatisation, deregulation, the liberalisation of trade and by making it easier to start a business or attract investment.
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ATHENS, April 3 (Reuters) - The sale of a majority stake in Greece's biggest oil refiner Hellenic Petroleum failed to attract any bids, the country's privatisation agency said on Wednesday.
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It is the longest-running dispute since the privatisation of the rail industry in the mid-1990s and there is little sign it is likely to be settled soon.
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Trying to please all sides, Ramaphosa said Eskom's generation, transmission and distribution businesses would become separate state-owned entities, without touching on controversial subjects like job cuts or privatisation.
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"The goal is to raise investors' interest in TRAINOSE, which currently operates as the sole provider of rail services in Greece," the privatisation agency HRADF said in a statement.
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The dispute between Sistema and Rosneft has rekindled investor fears from 2014, when the Russian government seized Sistema's stake in oil firm Bashneft, saying Bashneft's privatisation had been illegal.
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Under a broader privatisation plan President Emmanuel Macron's government aims to sell government shareholdings in certain companies to raise money to fund innovation projects and boost the overall economy.
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The sale is a first step in a privatisation programme that is designed to cut the 2019 budget deficit to 3.3% of gross domestic product from 3.7% in 2018.
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HANOI, Sept 5 (Reuters) - Vietnam is considering nationalising Airports Corporation of Vietnam, a move that economists say may hurt investor sentiment and hamper the Southeast Asian country's privatisation drive.
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The Future Fund was set up in 2006 with contributions from a A$60.5 billion from government surpluses and proceeds of the privatisation of telecommunications operator Telstra Corp Ltd .
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Italy has offered to bring down the debt by speeding up privatisations, but EU officials say the value of privatisation revenues in any given year is outside government control.
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ATHENS, Jan 31 (Reuters) - Greece has shortlisted nine investors in a tender for a minority stake in Athens International Airport (AIA), the country's biggest, its privatisation agency said Friday.
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BIRMINGHAM, England, Nov 21 (Reuters) - Britain's opposition Labour Party unveiled its election manifesto on Thursday, including a sweeping programme of nationalisation to reverse decades of pro-privatisation public policy.
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"I'm convinced that, in the near future, the FROB will have a chance to continue the privatisation process," chairman Jose Ignacio Goirigolzarri said during a shareholder meeting in Valencia.
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Progress on selling the more than 3700 state-owned enterprises, most of which are loss making, has been slow since Ukraine overhauled its privatisation law nearly two years ago.
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Privatisation revenue would help shrink this year's budget deficit to 3.3%, according to the government, which in June sold an 8% stake in Maroc Telecom, Morocco's largest telecom operator.
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NAIROBI, Sept 24 (Reuters) - Ethiopia is looking for an adviser to help it with the partial privatisation of its state-run telecoms operator, the finance ministry said on Tuesday.
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COMPENSATION CLAIMS Prosecutors argued that some of the methods employed in a deep restructuring of the company, then known as France Telecom, after privatisation prompted a wave of suicides.
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Last year Jadwa Investment, a top local investment bank, was appointed to advise on the planned privatisation of as many as five soccer clubs in the Saudi Professional League.
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Opposition from some members of parliament prompted government approval last year of a new privatisation structure whereby the government will retain 75 percent, leaving no room for a strategic investor.
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These include the 2006 privatisation of Luneng Group, a state-owned power company in Shandong that was later renationalised, and the 2013 sale of a stake in Ping An Insurance.
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The privatisation of DESFA is part of a drive by Greece to sell state assets, which is a significant condition of the country's bailout by the European Union and IMF.
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Despite the current Government's apparent attempts to bring the NHS to its knees through funding cuts, restructuring, and back door privatisation; the organisation is still one of Britain's greatest achievements.
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The quasi-privatisation "helps them to resolve the budget problem, but doesn't reduce the role of the state in the economy," says Oleg Kouzmin of Renaissance Capital, an investment bank.
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Moscow included a planned reduction in its stake in Rosneft, the world's top listed oil producer by volume, to 50 percent from 69.5 percent, in its privatisation plan for 2016.
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BAKU, Jan 18 (Reuters) - Azeri President Ilham Aliyev ordered the government on Monday to prepare a large-scale privatisation plan with participation of local and foreign experts, state television said.
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The woman who really did transform Britain had a shambolic first term; privatisation and union reform, with which she is now associated, did not really get going until after 1983.
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Starved of investment capital it used to kill scores of people each year in rail accidents that were avoidable and which have not happened in more recent years since privatisation.
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Tatiana Vorozheikina, a Russian expert on Latin America, argues that the hollowing out of institutions and the privatisation of state power is precisely what Russia and Venezuela have in common.
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"The board has held discussions about privatisation, however there is no outcome to report to the market at this stage," Chairwoman Elizabeth Bryan said at the company's annual general meeting.
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In an article in the New York Times on March 24th Mr Shulkin said Trump administration officials had seen him "as an obstacle to privatisation who had to be removed".
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As soon as we leave this time of uncertainties I think we are again quite ready to raise the question of the full privatisation of VTB, which is quite possible.
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Critics say the plan, which included the possible sale of assets and partial privatisation of state-owned firms, is not enough to restore business confidence and stimulate private sector investment.
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BELGRADE, Dec 22.4 (Reuters) - Serbia expects to raise 213 million euros ($214 million) in the privatisation of its biggest airport, Belgrade's Nikola Tesla, Prime Minister Aleksandar Vucic said on Monday.
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Greece's privatisation agency said earlier this year that it had accepted the offer by private shareholders in AIA to extend their concession for operating the country's largest airport until 2046.
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MOSCOW, June 1 (Reuters) - The Russian Economy Ministry said on Wednesday that it has selected VTB Capital to organise privatisation of 25 percent minus one share of shipping company Sovcomflot.
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The biggest company in the privatisation programme is the country's largest bank Nova Ljubljanska Banka (NLB), but analysts have said that might be delayed beyond 2017 due to market volatility.
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This rural "privatisation" drive did at least as much to reduce poverty and to spur economic growth and employment as did China's subsequent opening to global trade and foreign investment.
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Azeri President Ilham Aliyev ordered in 2015 the privatisation of the oil-rich country's biggest bank after a clean-up to get rid of distressed assets resulting from poor management.
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Russian stocks also slipped from Tuesday's record highs, losing 69.77869.92 percent after shares in oil producer Bashneft fell as much as 69.162.79 percent on the unexpected postponement of its privatisation.
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Other tricky issues due to be completed as part of the first review are the setting up of a privatisation fund to pay down debt, and increasing taxation of farmers.
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The privatisation of France's two biggest regional airports is expected to yield up to 1.5 billion euros ($1.69 billion) for the government, which already exited Toulouse-Blagnac airport in 2014.
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"The money from the Rosneft privatisation will be counted as budget revenue, and the revenue from the sale of Bashneft (will go on) covering the federal budget deficit," he said.
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The government scrapped previous plans for a bank privatisation in 2007, just two days before the deadline for the submission of bids, citing an international banking crisis at the time.
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Greece is expected to have missed its 2.5 billion euros bailout target for privatisation proceeds last year and to have raised only 500 million euros, according to its 2017 budget.
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"Current instability of markets shows that market conditions are not at all favourable at the moment for any privatisation operation and in particular for ADP", Ndiaye told a press conference.
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Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms.
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His departure comes as the re-privatisation plans for the Tuscan bank have been complicated by a surprise offer Intesa Sanpaolo announced on Monday night for smaller rival UBI Banca.
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Brunei brought the stake in 13 from Jordan when the country was seeking to attract foreign investment in an IMF-guided privatisation scheme to sell stakes in key state enterprises.
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But a privatisation plan the government predicted would raise $26 million for the budget last year involved sales of just $21 million, according to data from the State Property Fund.
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Progress on the project, which has been beset by delays, is being watched by Greece's creditors as a test of Athens' commitment to privatisation under its multi-billion euro bailout.
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Senior ANC officials assured the NUM that the plan to split Eskom would not lead to job losses or privatisation of the power utility, NUM General Secretary David Sipunzi said.
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Eneco's 53 municipal shareholders voted for privatisation in October, clashing with the company's management who wanted to operate as independently as possible and to continue investing heavily in sustainable energy.
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Japan Post Holdings, Japan Post Insurance and Japan Post Bank listed simultaneously in 2015 with the government raising some $12 billion, marking the country's biggest privatisation in almost 30 years.
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The fiscal deficit, without counting privatisation revenue, would rise to 4.1% in 2019, from 3.7% in 2019, before falling to 3.8% in 2020 and 3.5% in 2021, the bank said.
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Asked to comment about potential cash difficulties due to the virus epidemic, TAP told Reuters it was "successfully implementing its post-privatisation transformation plan" and had a "solid shareholder base".
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Government officials who are members of the board have repeatedly voiced scepticism about the privatisation plans which focus on Deutsche Bahn's Arriva passenger transport business Arriva and its Schenker logistics arm.
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Figures from the Office of Rail and Road revealed the sharpest decline in rail usage since privatisation in the mid-1990s, casting further doubt on the profitability of some franchises. ind.
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While the privatisation process of HSH is expected to start after the summer break with the selection of an investment bank, some potential buyers are already showing it a cold shoulder.
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Poor management and a failed privatisation attempt under the Syriza government have pushed the Public Power Corporation (PPC), which provides electricity to half of Greece's households, to the brink of collapse.
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Its new privatisation plan is expected to fetch between 500 and 800 billion roubles, potentially allowing the government to avoid additional painful budget cuts ahead of parliamentary elections set for September.
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The country's privatisation drive looks far from reaching a target of 35-40 billion riyals ($9.33 billion-$10.66 billion) in non-oil state revenues by 2020 based on deals so far.
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Aliyev said the government had prepared a large-scale privatisation plan with the participation of local and foreign experts, while proposals on the recovery of problematic banks were also under consideration.
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The IMF's Finger said the Fund would not give a deadline for the privatisation of PIA, an apparent softening of its earlier insistence on a sell-off by a specific date.
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ATHENS, June 29 (Reuters) - Greece dropped charges of breach of duty against three former privatisation officials on Thursday, court sources said, paving the way for the disbursement of new bailout loans.
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The privatisation of France's two biggest regional airports is expected to yield up to 1.6 billion euros for the government, which had already sold out of Toulouse-Blagnac airport in 2014.
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Despite the privatisation, Nigeria still produces just a tenth of the 40,000 megawatts a day needed to guarantee supply to its 180 million people, and the system continues to bleed money.
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Qatar's sovereign investment fund QIA initially bought 19.5 percent in Rosneft together with Swiss trading giant Glencore for 10.2 billion euros ($12.2 billion) during the Russian firm's partial privatisation in 2016.
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BAKU, Feb 13 (Reuters) - The International Bank of Azerbaijan (IBA) is working with a consultant to prepare a recovery strategy ahead of its privatisation, the head of its supervisory board said.
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ABU DHABI, Nov 12 (Reuters) - International energy firms will be invited to participate in India's privatisation of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.
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Britain's former state postal monopoly has struggled with a fall in letter volumes and has invested in foreign markets under the Global Logistics Systems (GLS) brand since its privatisation in 2013.
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AMSTERDAM, March 8 (Reuters) - Eneco Groep NV, the Dutch energy company preparing for privatisation, on Thursday reported a rise in underlying 2017 sales and profit, and rising debt, due to acquisitions.
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That privatisation, approved by its municipal shareholders in October, has been slowed by disputes that led to the dismissal of both its CEO and chairman, and an investigation into board decisions.
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MOSCOW, March 28 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Monday he had discussed possible participation of U.S. banks in Russia's privatisation with the U.S. ambassador to Russia, John Tefft.
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It is expected to raise 188 million euros for state coffers this year, which will go towards helping Greece meet its 2016 bailout target for privatisation proceeds of 2.5 billion euros.
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The privatisation of Sovcomflot, Russia's biggest shipping company whose vessels support offshore oil and gas operations, is part of a wider state asset sale aimed at plugging holes in the budget.
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PARIS, Nov 21 (Reuters) - Shares in French lottery operator Francaise des Jeux (FDJ) rose on their stock market debut on Thursday in the country's most high profile privatisation of the year.
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ATHENS, March 23 (Reuters) - Greece has received nine non-binding bids for the sale of a 65% stake in its dominant gas supplier DEPA Commercial, its privatisation agency said on Monday.
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Greece's privatisation agency has said that NCH will pay the country an additional 2.3 million euros if it achieves a specific target but did not indicate the nature of the target.
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"Privatisation is seen as a structural measure to reduce the share of government involvement in the economy, aimed at improving the efficiency of company management," the ministry said in a statement.
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MADRID, Sept 14 (Reuters) - The chairman of Spain's state-controlled Bankia said on Thursday he was optimistic the national bank bailout fund (FROB) would soon continue the privatisation of the lender.
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The transport department invited expressions of interest last month, saying it was open to proposals on various forms of privatisation of the national airline including joint ventures, ownership, franchising and concessions.
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"At least 17 companies have expressed interest but for now I cannot say who they are or what model of privatisation did they propose," Transport Minister Kitso Mokaila said on Thursday.
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A spokeswoman for the Energy Ministry disputed that account, saying the ministry had always supported privatisation and none of the meetings between ministry representatives and investors had reflected a different attitude.
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Privatisation is not an explicit condition of a $17.5 billion aid programme from the International Monetary Fund, which has halted payments, but forms part of the fiscal rebalancing the IMF requires.
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ALMATY, Feb 4 (Reuters) - Minority shareholders of Kazakhtelecom have sued the telecoms provider over its refusal to buy back their shares in a move that could complicate the firm's privatisation plans.
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When it comes to policy, though the left and right are sharply divided over privatisation in health care and education, in other areas a centrist government could find much to agree on.
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ROME, Nov 15 (Reuters) - Italy will not be selling stakes in oil major Eni or other "family jewels" as part of its privatisation programme, Deputy Prime Minister Matteo Salvini said on Thursday.
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ISTANBUL, July 1 (Reuters) - Turkey's sovereign wealth fund has given Ernst & Young the mandate to advise on the privatisation of the country's Milli Piyango national lottery, broadcaster Bloomberg HT reported on Monday.
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Banks are competing fiercely for mandates in the IPO because it is viewed as a gateway to other deals expected to emerge from Saudi Arabia's plan to revamp its economy via privatisation.
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Macron was accompanied by a delegation of businessmen, including the chief executive of telecommunications group Orange, Stephane Richard, who is looking to position the company ahead of Ethiopia's privatisation of the sector.
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"This was the first official decision that will lead the company to the privatisation process (this year)," Tanjug quoted Galenika's in-house head of the Independent Trade Unions, Zoran Pantelic, as saying.
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AMSTERDAM, Sept 15 (Reuters) - De Volksbank, the former banking operations of SNS Reaal, is not yet ready for privatisation, the agency which advises the Dutch government on financial holdings said on Friday.
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Athens concluded a 1.2 billion-euro airport leasing deal with Germany's Fraport in December, hoping this would help it to meet its target for privatisation proceeds of 2303 billion euros this year.
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The ADP sale could take a long time to be completed, given the complexity of its structure, and it is likely to serve as a test case for broader French privatisation policy.
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WHEN Russia's government floated the idea that its supposedly ambitious privatisation plans should include selling Bashneft, a state-controlled oil firm, to Rosneft, another state-controlled oil firm, many officials were opposed.
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ATHENS, Oct 30 (Reuters) - Greece has pushed back the deadline for the submission of binding bids for its railway maintenance company ROSCO by three months, its privatisation agency HRADF said on Monday.
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Minister of Power Babatunde Fashola says he is working with government colleagues, the president's office and the central bank to resolve the problem of unpaid bills, some of which pre-date privatisation.
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The Ta Nea newspaper said specific areas of disagreement also included the privatisation of the country's grid operator ADMIE and freezing the wages of essential services such as the coastguard and police.
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And in June the government abandoned its planned privatisation of Air India, after it attracted no bidders for the firm, which has made losses for a decade and has $7.8bn in debt.
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LJUBLJANA, Dec 20 (Reuters) - Slovenia's privatisation agency Slovenian Sovereign Holding (SDH) said on Tuesday that state-owned hosiery maker Polzela, which was put up for sale in October, will file for bankruptcy.
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SDH will coordinate the privatisation of the country's largest bank Nova Ljubljanska Banka (NLB), which is due to be completed by the end of this year in line with European Commission demands.
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Earlier this month, France's lower house of parliament approved plans for the possible privatisation of ADP, lottery operator Francaise des Jeux (FDJ) and for a reduction of France's stake in utility Engie.
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The Labour Party is setting itself the task of reversing economic changes (such as the privatisation of utilities and the marginalisation of trade unions) that have now become rooted in British life.
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"The final decision about the timing of this privatisation will be made by the government at an appropriate time," he said, adding the earliest possible date was the second half of October.
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"The committee found that privatisation would endanger citizens equal access to social and health services", Annika Lapintie, committee chairman and lawmaker in the opposition party Left Alliance, said at a news conference.
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This model of "social privatisation" is a template for others to copy, says Brett Himbury, the boss of IFM, a big fund that invests in infrastructure assets on behalf of pension funds.
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The Russian government has included a reduction in its stake in Rosneft, the world's top listed oil producer by output, to 50 percent from 69.5 percent in its privatisation plan for 2016.
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Agbal, who was speaking in the capital, Ankara, said $71 billion worth of privatisation has been carried out so far and the government wanted to continue with privatisations with the "same determination".
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If the process moves ahead, advisors will be working on a tight deadline as the current law means the exchange's privatisation would have to be completed by June 2018, the sources said.
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"This time around the public is very divided on the issue which makes things difficult," said Andrea Giuricin, transport expert at Milan's Bicocca university and author of "The endless privatisation of Alitalia ".
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In fact, the island's Public-Private Partnerships Authority director spoke about the benefits of leveraging federal money with companies interested in the privatisation of public infrastructure just one month after the storm.
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The privatisation, which involves the potential sale of four flour milling companies by the Saudi Grains Organisation (SAGO), presents opportunities for expansion into value-added products within Saudi Arabia, the statement said.
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FRANKFURT, June 9 (Reuters) - German state-owned lender HSH Nordbank is expecting to post a net profit this year, albeit lower than in 2015, as it prepares for its privatisation by 2018.
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HANOI (Reuters) - Vietnam plans to speed up its privatisation programme by selling stakes in nearly 100 state-owned firms by the end of 2020, including Agribank, the government said late on Thursday.
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Paneuropean Oil and Industrial Holdings are jointly selling the stake in the biggest energy privatisation Athens is implementing under the surveillance of its international lenders since its third bailout expired in August.
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Labour says it would provide an as-yet-unspecified boost to spending, undo Tory reforms designed to encourage the internal market and end privatisation by bringing contracts in-house when they expire.
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Privatisation in the current market conditions means selling assets at relatively low prices, and the dividend hike means state firms will have less money for investment, which could hit the wider economy.
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MOSCOW, Nov 6 (Reuters) - Russia's finance ministry would like to make Transneft, Russian Railways, Aeroflot , Rosseti and Rushydro part of the 2020-2022 national privatisation programme, a ministry official said on Wednesday.
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After months of legal wrangling between government and opposition representatives, a joint session of the upper and lower houses of parliament unanimously passed a bill that blocks the privatisation of the airline.
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"Privatisation should be approached very carefully," Russian Economy Minister Maxim Oreshkin, whose ministry is overseeing the process, was quoted as saying in the ministry's emailed response to a Reuters request for comment.
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Under the privatisation plan, the Treasury had hoped to raise up to 3 billion euros ($3.54 billion) by selling 50.37 percent of ENAV and most of its 4.34 percent holding in ENI.
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The government's National Centre for Privatisation and Public-Private Partnerships said it would accept public comment on the draft for three weeks, before promulgation of the law on an unspecified future date.
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MOSCOW, April 13 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Wednesday White&Chase had been chosen as legal advisers for the privatisation of Russian oil firm Rosneft , RIA news agency reported.
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Also, Riyadh is expected to proceed with a privatisation programme that could see it list a wide range of firms, although this is a longer-term prospect, Hussan said in an interview.
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The Kremlin said on Tuesday foreign investors were welcome to participate in the privatisation announced the day before, which has been driven by an economic crisis brought on by low oil prices.
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With the European Commission and financial markets fretting, in its 2019 budget last autumn the government vowed to reverse the trend partly through an ambitious 18-billion-euro ($20.17 billion) privatisation plan.
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The reforms sought by Hasbani and his Lebanese Forces party include boosting transfers to the treasury from the profitable state-owned telecom sector and the Beirut port authority while seeking their privatisation.
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Because of the novel virus, initial bids and the related documents for DEPA Commercial can be submitted via e-mail as well by the same date, the privatisation agency said on Thursday.
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Riyadh had previously set a goal of aiming to generate 35 billion to 40 billion riyals ($9.3 billion to $10.0 billion) of non-oil state revenues from its privatisation program by 2020.
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This month Serbia agreed to buy 34.58% of Komercijalna from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) in preparation for the planned privatisation of Komercijalna.
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As part of the "Loi Pacte" legislation aimed at the privatisation of some state-controlled enterprises, ADP was expected to be among the first wave of companies to move to private control.
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Under a privatisation scheme, part of a third international bailout signed last year, Greece concluded on Thursday the lease of a 108.3-acre plot, Kassiopi, to NCH Capital for 23 million euros.
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ATHENS, Feb 21 (Reuters) - Greece received nine expressions of interest from investors in the sale of the country's state-controlled gas distribution network, DEPA Infrastructure, the country's privatisation agency said on Friday.
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PARIS, Oct 8 (Reuters) - The privatisation of France's national lottery company Francaise des Jeux (FDJ) should be launched in a "few weeks", FDJ head Stéphane Pallez told BFM Business TV on Tuesday.
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Thatcher contributed to Britain's problem of over-centralisation with her war on local government, and poisoned the well of privatisation by selling off natural monopolies in ways that favour investors over customers.
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ATHENS, Nov 18 (Reuters) - Greece has transferred a 5 percent stake it owns in telecoms group OTE to the country's privatisation agency (HRADF), according to a publication in the government's official gazette.
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The kingdom is launching a privatisation drive in many sectors as part of wider economic reforms aimed at boosting efficiency and easing pressure on state finances in an era of cheap oil.
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PPC is also considering the partial privatisation of its power distribution operator and expects group core profit to double next year due to lower energy costs and a smaller payroll, Stassis said.
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However, the success of the privatisation and the rating implications thereof will remain uncertain until the bidder's identity and intentions are disclosed and the sale is approved by the European Commission (EC).
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Lifting the existing restrictions on business activities post-privatisation could allow HSH's new owners to further adjust the business model during 2018 in a way that positively influences the EC's viability assessment.
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LONDON/AMSTERDAM, April 18 (Reuters) - Dutch energy company Eneco is working with investment bank Citi to advise on its privatisation, which should kick off soon, three sources familiar with the matter said.
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Japan Post said earlier this month it would reduce its stake in Japan Post Insurance - part of its effort to advance the privatisation of its group companies - by selling 168 million shares.
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"The opportunities to date are largely in listed equities and direct investment, and the privatisation or IPOs have been limited to the oil and gas sector," said Richard Segal at Manulife Investment Management.
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The state-owned bank, half of which is slated for privatisation this year, also said bad loans fell to 12.7 percent of all loans, down from 13.8 percent at the end of 2016.
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The new fund will absorb Greece's existing privatisation agency HRADF, its bank rescue fund HFSF and two new agencies that will manage a large number of state-controlled companies and real estate properties.
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The sell-off is part of Australia's more than A$100 billion privatisation programme, where state and federal governments are trying to cut debt and bankroll capital works by selling "mature" infrastructure assets.
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Former economy minister Alexei Kudrin has proposed to increase state spending on social programmes by expanding a privatisation drive, selling state stakes in big oil and gas companies over the next eight years.
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This privatisation is part of President Emmanuel Macron's plan for the government to have a lighter touch on the economy and to help finance a 10 billion-euro government fund to support innovation.
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