- Portugal: The Portuguese government is to complete the privatisation of CIMPOR, the leading national cement company, during the first half of 2001, states Finance Minister Joaquim Pina Moura. The last phase covers the 10.049% still held by the State. We recall that CIMPOR was the object, last June, of a hostile bid from HOLDERBANK, associated to SECIL, a bid that received government opposition. See EI of 27 October and 20 June 2000. Furthermore, Mr Joaquim Moura announced the preparation of a new phase in the privatisation of the paper and paper pulp group PORTUGEL-SOPORCEL. The second largest Portuguese company in this field, PORTUCEL, held at 56% by the State, had made a bid for all of SOPORCEL, the main national producer in this sector. See EI of 15 December. - Japan: According to the Nippon press, the Japanese government is preparing to re-float its privatisation programme. The only operation officially confirmed concerns JAPAN RAILWAYS. Thus, it had already announced, last December, the sale of 12.5% of JR EAST, 31.5% of JR WEST and 39.5% of JR CENTRAL, which could bring nearly 1,200 billion yens into the state's coffers (see EI of 9 December). Also envisaged is: i) the sale of one million NTT shares. Already under the 50% level of capital, the Nippon State could again sell between 5 and 6% of the shares; ii) a reduction in the State participation of 67% to 50% at the present time in JAPAN TOBACCO. This operation, supported by the group's management, should, at today's rates, bring in a little over 250 billion yens.