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privatisation News

Russia's Kalashnikov becomes majority private-owned

Moscow - Private investors have for the first time gained a majority share of Russia's Kalashnikov arms manufacturer, producer of the famed AK-47 assault rifle, the company said Thursday.

Serbia struggles to sell off communist-era companies

Serbia - Deep in a western Serbian valley, the town of Priboj despairs at the decline of a truck factory that was once its lifeblood -- and is now symbolic of the country's failing state-owned companies.

TAP Portugal privatisation hits turbulence with pilot strike

Lisbon - A 10-day strike by pilots at TAP Portugal, a plunge into losses and sky-high debt have steered the airline, and the government's plans to sell it to private investors, into turbulence.

Greece concludes long-awaited ex-airport lease

Athens - Greece on Monday said it had leased a former Athens airport in a deal worth 915 million euros ($1.3 billion) -- a key goal in the cash-strapped nation's efforts to offload state-owned assets.

Ireland sells part of state gas firm

Dublin - Ireland's government on Tuesday said it had agreed to sell part of state gas firm Bord Gais Eireann under a privatisation programme following Dublin's exit from an EU-IMF bailout.The company said in a statement that it would sell its gas and electricit...

Britain's Royal Mail says to cut 1,600 jobs

London - Britain's main postal operator Royal Mail on Tuesday said it planned to axe 1,600 jobs under a fresh cost-cutting drive six months after the group was partly privatised.Royal Mail said in a statement that most of the jobs to go would be in management, ...

Bankia shares suspended as privatisation begins

Madrid - Trading in shares in Spanish bank Bankia was suspended early on Friday as privatisation of the company, nationalised in 2012, got under way, the market regulator CNMV said.The bank support fund, acting on behalf of the Spanish state, has begun the priv...

Spain starts privatisation of nationalised Bankia

Madrid - Spain's government is to begin the privatisation of nationalised lender Bankia by selling off 7.5 percent through its banking assistance fund FROB, according to a filing with the stock market regulator CNMV on Thursday.The banks tasked with the sale ar...

Greek dock workers protest against privatising Piraeus port

Athens - Hundreds of Greek dock workers staged a protest in Athens Wednesday against plans to sell most of the state's stake in the Piraeus port authority (OLP), which runs Greece's main harbour.The government plans to divest 67 percent of OLP, from its current...

Slovenia 'eyes more privatisations'

Frankfurt Am Main - Slovenia will complete its planned privatisations by the end of the year and is considering selling off more state-run companies, Prime Minister Alenka Bratusek told a German newspaper on Monday."We're making good progress with the sales negotiations,"...

Spanish bank Bankia to be 'privatised in stages'

Madrid - Spain will sell its stake in bailed-out bank Bankia in stages over two or three years, its president said in an interview published on Sunday.Bankia became the symbol of Spain's financial crisis when it lost more than 19 billion euros ($26 billion) in ...

Op-Ed: Britain's railways — time to renationalise?

The privatisation of Britain's railways was supposed to improve the service. In practice it has brought astronomical fare increases, redundancies, and a dehumanised travelling environment. Rail staff are now fighting back.

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