Cyta flota­tion ruled out, Pizza Hut aims for list­ing

Financial Mirror (Cyprus) - - FRONT PAGE -

Trans­port Min­is­ter Adamos Adamides said that Cyta will not be floated on the Cyprus stock mar­ket, de­spite plans to make the pub­lic sec­tor more com­pet­i­tive with less gov­ern­ment in­volve­ment, while the Zi­va­naris fam­ily-owned com­pany aimed to list the Pizza Hut and other fran­chises through a pri­vate place­ment, ac­cord­ing to the is­sue 162, on May 15, 1996.

Com­mu­ni­ca­tions and Works Min­is­ter Adamos Adamides said that Cyta and other pub­lic

No for Cyta:

ser­vices need to ad­just and evolve in or­der to be­come more com­pet­i­tive in light of fu­ture EU ac­ces­sion an to ben­e­fit the con­sumer with the low­est pos­si­ble rates. He said there are no plans to pri­va­tise state-owned as­sets, but he wants to con­vert Cyta, the Postal Ser­vice, the Ports Au­thor­ity and the air­ports into com­pet­i­tive en­ti­ties with­out chang­ing own­er­ship.

Pizza

Hut

on

CSE:

ZK Fran­chise Restau­rants, oper­a­tors of the Henry J. Beans and the Pizza Hut chain in Cyprus and Nor­way in­tends to go pub­lic in early 1997 fol­low­ing a suc­cess­ful pri­vate place­ment of 500,000 shares at CYP 2.93, ar­ranged by An­dreas Leonidou of AL Pro­Choice.

Casino li­cense:

the chief ex­ec­u­tive of Lon­don Clubs, Alan Good­e­nough, told a gam­ing con­fer­ence in Li­mas­sol that Cyprus ur­gently needs a casino op­er­a­tor, for which only two li­censes should be is­sued to pro­mote high-class, high-spend­ing tourism. But this can only pro­ceed af­ter the May 26 par­lia­men­tary elec­tions.

Cyprus and Malta will be the first coun­tries to join the EU as in­di­cated in the Cyprus-EU As­so­ci­a­tion Coun­cil, due to i mpor­tant progress in har­mon­i­sa­tion. Talks are ex­pected to start six months af­ter the In­ter­gov­ern­men­tal Con­fer­ence to re­view the Maas­tricht Treaty.

Cyprus-Malta to join EU:

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