Cyprus Innuendo reportedly interested in Montenegro Airlines.

By bne IntelliNews December 8, 2010
Cyprus-registered Innuendo is reportedly interested in Montenegrin flag carrier Montenegro Airlines, Vijesti daily reported quoting sources from the government. Innuendo has bought tender documents and considers bidding for a 30% stake in the air carrier. We recall that in September the government, which controls 99.9% of Montenegro Airlines, opened a tender to sell 30% of the company. The tender winner will have the right to become a majority owner within 2 years after completing the purchase. The deadline for submitting bids was set at Dec 15. So far Israeli air carriers El Al and Arkia Israel Airlines and Abu Dhabi-based Etihad Airways have bought tender documents. The EBRD and Greek diversified Restis Group have earlier expressed interest in becoming minority stake owners in the air carrier. Montenegro Airlines widened its net loss over fivefold y/y to EUR 4mn in 2009.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more

Montenegro reports increased budget revenue in Q1.

Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. Don't mention the "D" word - Ukraine
    6 days ago
  3. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. The models are wrong, climate change is accelerating faster than predicted
    1 day ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  4. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss