- Portugal: Portuguese authorities have selected five of the candidates for taking part in the second phase of privatisation of the paper group, PORTUCEL. They are British ANGLO AMERICAN through MONDI, the diversified Portuguese group COFINA; the Portuguese cement firm SEMAPA; the paper company LECTA (CVC CAPITAL fund) and DOMTAR of Canada. LECTA is proposing EUR 1.55 per share (i.e. a total of EUR 356.9 million), MONDI EUR 1.50 per share (i.e. EUR 345.4 million total). The three other groups have made an offer at the minimum price requested by the government, namely 1.45 euro per share (total of EUR 333.86 million). We recall that the State currently holds all of PORTUCEL with 55.7% of the capital and has decided to place 30% on sale. - Monaco: Three candidates are still running for privatisation of 55% of the capital of the operator, MONACO TELECOM. They are the mobile operator ORANGE (FRANCE TELECOM group), British CABLE & WIRELESS and Lebanese INVESTCOM. They were selected by the seller, FRANCE TELECOM, and the Principality which holds 45% of the operator. Seven offers had been made end January but the bids by LIBANCELL, the DOUGHTY HANSON and CARLYLE funds and APAX-SOROS were dismissed. The name of the buyer will be made known end March at the earliest.