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Weekly Lists
December 1, 2017 www.intellinews.com I Page 26
bne:TMT
CEFC and Penta reported to be bidding together for CME
CEFC, the acquisitive Chinese energy group, and Penta Invest- ments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), which runs television stations across Central and South- eastern Europe, according to a Reuters report.
If the bid were successful, it would represent a big step by a politi- cally well-connected Chinese company into Europe’s media. CEFC has long been rumoured to be close to China’s military intelligence. CME’s most profitable TV stations are in the Czech Republic and Romania. It also operates stations in Slovakia, Slovenia, Croatia and Bulgaria.
According to Reuters, CEFC will provide most of the financing for any deal. Nasdaq-listed CME has a market capitalisation of $623mn and more than $1bn in debt. Time Warner owns a 46.5% stake but this rises to 75% if it exercises its warrants.
The closest thing Britain has to an oligarch entered the Russian market with a telecoms venture this week. Richard Branson's Virgin Group launched a mobile virtual network operator (MVNO), in Russia on November 27.
MVNO Virgin will use network capacities of T2 RTK Holding, which runs the mobile phone operator Tele2, the upstart fourth mobile phone service provider in the Russian capital, Vedomosti reported.
Few details are available at this point, except that MVNO Virgin will be initially available only in a test mode and only after testing is finished will it launch commercial operations.
Virgin has been present in Russia's telecom industry since 2007 as an investor in the local company Trivon, which provides fixed-line, IP telephony and pay-TV services under Virgin Connect brand. The new deal to create MVNO Virgin represents a significant expansion of the firm’s business in Russia.
Banca Commerciala Romana has launched its first electric car- sharing service, eGo, in Bucharest.
BCR stressed in a statement this is the first 100% electric car sharing service launched by a bank in the country.
Users of the bank’s eGo app will be able to pick up or drop off a car – the service will start with a fleet of 20 BMWs – anywhere in the city. The app will also provide information on charging stations.
Virgin launches mobile virtual network operator in Russia
Romania’s largest bank launches electric car-sharing service