Financial Mirror (Cyprus) - - FRONT PAGE -

ac­qui­si­tions so


M&A deals surged to CYP 87 mln as the fourth quar­ter promised to be the best for merg­ers and ac­qui­si­tions so far, the Fi­nan­cial Mir­ror re­ported in is­sue 589, on Oc­to­ber 6, 2004, while in other news Ste­lios is ex­pected to launch one of his first ‘easy’ brands and Turkey hopes to get the green light to start EU ac­ces­sion talks.

Merg­ers and

this year regis­tered a sharp in­crease, surg­ing to a to­tal value of CYP 87.17 mln, well above the CYP 75 mln in agreed deals for the whole of 2003. With the fourth quar­ter just start­ing, M&As for the whole year may reach the CYP 105 mln in deals trans­acted in 2002, but be­low the record CYP 439 in 2000 at the height of the bull craze. Ste­lios visit: EasyGroup founder Ste­lios Ha­jiIoan­nou is due in Cyprus to in­au­gu­rate the first out­let of his easyCar fran­chise in Li­mas­sol and also ad­dress an in­vest­ment sem­i­nar hosted by the SFS Group.

The Euro­pean Com­mis­sion is ex­pected to judge that Turkey has met the min­i­mum re­quire­ments to start ac­cess ne­go­ti­a­tions with the EU, although it will leave the po­lit­i­cal ques­tion about ex­actly when they start to the Euro­pean Coun­cil meet­ing of EU heads of gov­ern­ment in De­cem­ber.

A Lufthansa jumbo Boe­ing 747 from Ger­many en­route to Is­rael was di­verted to Lar­naca after au­thor­i­ties re­ceived a bomb threat. Is­raeli fighter jets were scram­bled to in­ter­cept the plane and pre­vent it from en­ter­ing Is­raeli airspace, an­ger­ing Cyprus gov­ern­ment of­fi­cials by the force­ful di­ver­sion of the flight and Is­rael’s vi­o­la­tion of Cyprus airspace.

EU un­em­ploy­ment fig­ures for Au­gust showed that the Cyprus rate of 4.5% was only half the 12-na­tional Eu­ro­zone av­er­age of 9%, which, to­gether with Aus­tria’s, was the third low­est after Lux­em­bourg (4.3%) and Ire­land (4.4%).

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