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Home > Privatization Alert - January2008
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Privatization Alert - January 2008
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Focus: Privatization in Transition Economies
A recent report titled 'Fifteen Years of Transformation in the Post-Communist World: Rapid Reformers Outperformed Gradualists' examines the privatization experience of transition economies. The report finds that on the whole countries that reformed rapidly performed better than those that adopted a more gradual approach. As regards privatization, however, the efficiency of large-scale privatization has been dependent not on the speed of the process, but on its transparency, which has been the key feature for maximizing economic benefits. There is also evidence that those transition countries implementing rapid reform benefited from significant development of institutions, which has also been linked to efficiency gains from privatization.
Status and upcoming transactions
Europe and Central Asia: Ukraine is proceeding with the sale of a majority stake in Ukrtelecom by the end of April 2008. Serbia is continuing the last leg of its privatization program with announcements of new divestments through auctions that include a traffic equipment plant, Putnik Hotel and other properties. Completion of large privatization sales expected this year include Serbia Telecom, Belgrade Airport, Galenika a.d. (pharmaceuticals) and the national electricity company, as well as JAT (the national airline) and NIS (the national oil company). Romania has announced the sale of Antibiotice SA, a state-owned pharmaceutical company, in an auction to be held on March 18, 2008. The country's privatization agency has announced the sale of 283 companies in 2008. Turkey has extended the deadline for the bidding for Tekel (tobacco) to February 18, 2008. The remaining 75 percent government-owned stake in Halkbank is also expected to be offered to investors in 2008, as is a 15 percent stake owned by the Treasury in fixed line operator Turk Telecom. Mongolia's State Property Committee has placed Mongolia Telecom, the country's fixed line operator, on its list of upcoming sales for this year. A 40 percent stake in Mongolia Telecom was acquired by Korea Telecom in an earlier privatization. The government seeks to acquire back that stake, retain a 51 percent share, offer up to 10 percent to employees and sell the remainder share.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
Middle East and North Africa: Lebanon has postponed the privatization of its mobile telephone network until the summer of 2008. Algeria has plans to privatize 100 state owned enterprises in the first half of this year.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
East and South East Asia: Indonesia plans to divest fully or partially from 37 companies in 2008, including a 40 percent stake in PT Adhi Karya, a construction company, as well as banks and plantation firms. Vietnam is at the initial stages of planning the partial sale of Vietnam Airlines with foreign investor participation.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
South Asia: Pakistan has extended the deadline for submitting expressions of interest for the Pakistan Machine Tool Factory to February 7, 2008.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
Sub-Saharan Africa: Tanzania's Parastatal Sector Reform Commission, set up in 1992, has formally ceased its operations, having privatized over 350 enterprises.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
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