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0738 24Aug2009
AvtoVAZ spikes on state holding idea
Russia's AvtoVAZ spikes more than 16 percent on Monday after a source close to the struggling carmaker, part owned by Renault, said Russia's powerful state industrial conglomerate could form a new automotive holding.
The holding would receive the state's stakes in AvtoVAZ and truckmaker KaMAZ, part owned by Daimler, the source said. KaMAZ shares are up 7.91 percent.
'The creation of a new holding would make the management structure at the auto producers even more complicated and would be unlikely to improve their operating or financial performance,' VTB Capital analysts wrote.
'However, we do not rule out that the new structure could in part be manoeuvring aimed at channelling extra state support to troubled AvtoVAZ.'
(gleb.stolyarov.reuters.com@reuters.net)
0607 24Aug2009
Erste cuts TPSA target price to 17.7 zlotys
Erste cuts its target price for Poland's largest telecom operator TPSA to 17.7 from 20.5 zlotys, while maintaining its 'accumulate' recommendation for the stock.
The France Telecom unit closed the Friday session in Warsaw at 16.4 zlotys per share, which values the company at 21.4 billion zlotys ($7.5 billion).
rm://adrian.krajewski.thomsonreuters.com@reuters.net
($1=2.868 Zloty)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Stocks on the move Real-time Equity News
REGIONAL INDICES
Warsaw WIG20 Bucharest Beti
Budapest SE Index Prague PX
Zagreb Crobex Sofia Sofix
Ljubljana SBI20 Istanbul ISE National 100 Moscow RTS
0738 24Aug2009
AvtoVAZ spikes on state holding idea
Russia's AvtoVAZ spikes more than 16 percent on Monday after a source close to the struggling carmaker, part owned by Renault, said Russia's powerful state industrial conglomerate could form a new automotive holding.
The holding would receive the state's stakes in AvtoVAZ and truckmaker KaMAZ, part owned by Daimler, the source said. KaMAZ shares are up 7.91 percent.
'The creation of a new holding would make the management structure at the auto producers even more complicated and would be unlikely to improve their operating or financial performance,' VTB Capital analysts wrote.
'However, we do not rule out that the new structure could in part be manoeuvring aimed at channelling extra state support to troubled AvtoVAZ.'
(gleb.stolyarov.reuters.com@reuters.net)
0607 24Aug2009
Erste cuts TPSA target price to 17.7 zlotys
Erste cuts its target price for Poland's largest telecom operator TPSA to 17.7 from 20.5 zlotys, while maintaining its 'accumulate' recommendation for the stock.
The France Telecom unit closed the Friday session in Warsaw at 16.4 zlotys per share, which values the company at 21.4 billion zlotys ($7.5 billion).
rm://adrian.krajewski.thomsonreuters.com@reuters.net
($1=2.868 Zloty)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.