- Portugal: The Portuguese government has approved the consortium controlled by the Portuguese hotel group, PESTANA, for partial privatisation of the attractive hotel network "Pousadas" (castles, monasteries …). The winning consortium buys from the State 37.6% of the capital of ENATUR, the Portuguese company that manages Pousadas and that will subscribe to an increase in the reserve capital within the limit of total participation of 49% of the capital. The State will, through its public holding PARPUBLICA, keep 51% of ENATUR capital. - Bulgaria: The national airline company BULGARIA AIR is to be privatised at 100%, Finance Minister Milen Veltchev has announced. Privatisation will take place via a public call for bids in two stages aimed at attracting strategic and financial investment. In order to take part, the first must have annual revenue of at least EUR 100 million whereas the second must manage funds of over EUR 200 million. Finally, over 50% of investors' shares must belong to a Bulgarian legal or natural entity. - Croatia: The Austrian group OMV and Hungarian MOL remain candidates for the acquisition of 25% of the shares plus one of the national Croatian oil and gas company, INA, Economy Minister Ljubo Jurcic pointed out. MOL's bid is $505 million while that of OMV is 420 million. The Russian company, ROSNEFT, has withdrawn its offer. With profits of around EUR 95 million in 2002, INA (17,000 employed) is the most successful national company of Croatia before the telecommunications company HRVASKE TELEKOMUNIKACIJE.