In Brief
Greece, Iran to consider gas deal The Public Gas Corporation (DEPA) and Iran’s respective company are expected to sign a memorandum of cooperation during President Khatami’s visit in Athens today, government spokesman Christos Protopappas said yesterday. The development is a follow-up to a meeting between Development Minister Akis Tsochadzopoulos and Iranian counterpart Bijan Namdar Zangeneh in Athens in January. Tsochadzopoulos is scheduled to visit Ankara on March 28 and 29 to explore the possibilities for the extension to Greece of the gas pipeline from Iran to Ankara. Further talks are expected in Iran in April. Zangeneh said in January, «We would like to use Turkey as a central point of distribution of natural gas to Greece and the rest of Europe.» Heavy fine for abuse of confidential information The Capital Market Commission yesterday announced a 2-million-euro fine on Constantinos Koutlas, vice president and managing director of construction company Proodeftiki for abuse of confidential information concerning a share split and capital increase in 1999. Koutlas was found to have bought 94,430 shares of the company before the announcement of the increase at 6,936 drachmas each and sold 90,000 of them afterward at an average price of 12,440. Venture capital Cyprus-based company CLR Financial Services plans to set up a 20-million-euro venture capital firm in Greece, with a 10-million contribution from the government-sponsored New Economy Fund (TANEO), CLR officials told a press conference in Thessaloniki yesterday. Consultants firm Kantor has been assigned the job of identifying the companies in which the venture capital will be invested. Intracom buys in Sweden Telecom equipment maker Intracom yesterday announced the signing of a deal for the acquisition of a 26.2-percent stake in Sweden’s mobile telephony equipment firm KEV AB, which develops small third-generation (3G) base stations. Vodafone Vodafone mobile operator yesterday announced a 10-percent increase, to 35.01 percent, of its stake in its commercial partner Mobitel. «The move strengthens the productivity of the network and creates significant synergies with a view to controlling retention costs and attracting new clients,» Vodafone said in a press release. FTSE/ASE Mid-40 change The share of Public Power Corporation (PPC) yesterday replaced that of Telesis Investment Bank on the FTSE/ASE Mid-40 index, as a result of the bank’s merger with EFG Eurobank Ergasias. PPC will have a 20-percent weighting in the index. Investment funds Net asset value of the 22 listed closed-end investment funds stood at 2.19 billion euros at the end of February. All were trading at discounts ranging between 2.04 percent and 32.11 percent on February 28, except Domus, which was trading at a 93.43 percent premium.
