- Russia: the Russian government has relaunched the privatisation of 5.9% of the capital (or 50 million shares) of LOUKOIL, the country's foremost oil producer. Moscow can hope to make at least $800 million from the sale. Moscow has also launched the privatisation of SLAVNEFT, the country's seventh largest oil group. Through a call for tender, the State will, on 18 December, sell the 74.95% it has in the oil firm SLAVNEFT (109 million barrels of crude a year) for an initial price of %1.7 bn. Offers will have to be put in by 15 December evening. LOUKOIL and SLAVNEFT are said to interested, as are European and American groups. - Czech Republic: the Czech finance minister has announced failure in the privatisation of the telephone operator CTE - CESKY TELECOM, which holds a quasi-monopoly of the 4 million fix telephone lines in the country. The consortium C-TEL, which was to take a 51.1% stake held by the State was unable to agree on the simultaneous purchase of the minority shares held by private investors (see EI of 1 August 2002). - Greece: the Greek government has received six offers for the purchase of a majority stake of 51% in the airline company OLYMPIC AIRWAYS. These are the Greek OLYMPIC INVESTORS, GOLD AVIATION, AEGEAN AIRLINES, NEW WINGS, and American WEX FORD and CHRYSLER AVIATION. Several attempts at privatisation have already been made but ended in failure.