Rus News Journal


Telecom Italia and Olivetti unite the debts

the Italian telecommunication company Telecom Italia has informed on association with company Olivetti. The merge purpose is simplification of management by company Telecom Italia and carrying out of re-structuring of industrial group Pirelli. Now Olivetti 55 % of actions Telecom Italia belong. For carrying out of transaction Olivetti has involved the credit at a rate of 15,5 mlrd euro. According to terms of transaction, Telecom will merge with Olivetti by an exchange of actions in the ratio 1:7. The new company will be called Telecom Italia. The Chairman of the board of companies Telecom Italia Marko Tronketti Probelief counts that reorganisation of structure of holding will allow to facilitate management of it and to reduce the size of its debts. Past year both companies have registered dead losses: Olivetti at a rate of 773 million euro, and Telecom Italia - 3,2 mlrd euro.

Thales will strengthen defence of Great Britain
the Government of Great Britain has chosen the French company Thales BAESystems the contractor for equipment of divisions of the British infantry by the newest electronics. The Ministry of Defence of Great Britain has concluded with Thales the contract for the sum $3,2 billion Group Thales BAE which makes electronics both for military men, and for civil establishments, expects to correct the financial position at the expense of the transaction. For last three years Thales has made a number of expensive acquisitions for a total sum 3 mlrd euro and has placed new actives for a total sum 1,8 mlrd euro. According to analysts, the choice of the British government can speak that Thales in parallel is engaged at once in three kinds of activity having the major value for defence, - military-oriented electronics, aeronautics and information technology. Besides, Thales last years has gone on considerable expenses to be fixed in the British defensive market - in particular, has bought the British telecommunication company Racal. Sales volume Thales in 2002 has grown on 8,2 % and has made 11,1 mlrd euro.

in struggle for KirchMedia there was only Saban
Meeting of creditors of gone bankrupt German media empire KirchMedia has approved the consortium offer led by the American billionaire Haimom Sabanom on acquisition of television network ProSiebenSat. 1 and belonging KirchMedia a film library for 1,8 mlrd euro. Thus, race for the inheritance of former media magnate Leo Kirha left a consortium consisting of German publishing house Heinrich Bauer Verlag and bank HypoVereinsbank. We withdraw. We and declared earlier that we will not accept participation in the race calculated only on one participant - representative Heinrich Bauer Verlag Andreas Fritsenketter has declared. Negotiations about transfer of part KirchMedia to a consortium led by mister Sabanom proceed, and, predictably, the transaction should be issued this week.

profits and losses
EADS were finished year with losses
by the Largest European space company European Aeronautic, Defense and Space Co., which is the basic shareholder of company Airbus, has finished 2002 with dead losses at a rate of 299 million euro. For comparison: 2001 it has finished with net profit 1,37 mlrd euro. According to the company, losses have been caused by expenses on division reorganisation on manufacture of space technics, and also reduction of volume of deliveries of planes. The company income was reduced to 3 % in comparison with previous year and has made 29,9 mlrd euro. The profit on operations has made 1,43 mlrd euro, having decreased in comparison with previous year on 16 %. Expenses on reorganisation of space division have made 350 million euro, and cumulative expenses on amortisation gudvila - 936 million euro. Last year the company sales volume has decreased on 2,9 % and has made 29,9 mlrd euro. EADS on 40 % has reduced the size of dividends - with 50 to 30 cents to the action.

WorldCom will write off $80 mlrd actives
the American telecommunication company WorldCom will write off almost $80 mlrd actives. According to experts, this second-large for all history of world business write-off of actives: last year company AOL Time Warner has written off $99,7 mlrd actives. As it has been declared, WorldCom will write off $45 mlrd under article gudvil $39,2 mlrd under article expenses on acquisition of the property and the equipment and $5,6 mlrd as other non-material actives . In July, 2002 WorldCom has begun bankruptcy procedure after the company debt has exceeded $40 mlrd and investors have refused to the company trust.

Ahold tries to cajole investors
the Network of supermarkets Ahold has made an attempt to return the trust of the investors which have reeled after scandalous dismissal in February of former financial director Mihilja of the Mercedes, convicted of frauds with bank accounts, and resignations of general director Ahold of Keesa van der to Hovena. New fulfilling duties of the financial director became 66 - the summer British of Dudley Juston before working as the financial director of Netherlands company Philips, making electronics. Mister Juston will combine work on re-structuring Ahold with a post of the careless chairman of board of directors (that is not being the official of the company) in the British pharmacological company Smith and Nephew. Mister Juston has declared that its priority problems - financial stabilisation Ahold and searches of the new constant financial director which should start to work in the end of this year. In the beginning of March management Ahold declared shortage for the sum of $500 million on bank accounts of the branch Foodservice which is based in Maryland (USA), about similar problems in one joint venture in Scandinavia and difficulties with the South American operations (informed on it on March, 3rd). In the USA and the Netherlands there are about it already begun official investigations. Ahold has been compelled to declare sales volume reduction on $30 mlrd the next three years.

the statistican
Peugeot - Citroen has overtaken Volkswagen
Representatives of French automobile conglomerate PSA Peugeot - Citroens declared results of sales for February. For the first time for all history of existence PSA Peugeot - Citroen has overtaken by quantity of the sold cars of the European leader - the German company of Volkswagen. In February the French auto makers managed to sell 2600 cars that is twice more than indicators of their German competitor. Now on share PSA Peugeot - Citroen is necessary 16,8 % of the European market while Volkswagen is compelled to be content 16,6 %. For the German motor-car manufacturer news about leadership loss has sounded is rather disturbing: last time the such happens in 1983 following the results of which on the first place there was Italian FIAT. On the other hand, as experts of Volkswagen specify, at calculation of results of sales experts PSA Peugeot - Citroens considered not only cars, but also utility trucks. Representatives of Volkswagen assert that if to estimate only quantity of the sold cars market shares, controllable Volkswagens and PSA Peugeot - Citroens, will look as 17,8 % and 16,1 % accordingly.