DOCSLIB.ORG

United Group and Vivacom Recent Trading Update AMSTERDAM

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
United Group and Vivacom Recent Trading Update AMSTERDAM United Group and Vivacom Recent Trading Update AMSTERDAM – Monday, January 20, 2020 United Group B.V. (the “Issuer” and, together with Adria Midco B.V., its direct parent company, and its subsidiaries, and excluding the Vivacom Group, as defined herein, and Tele2 Croatia, “United Group”) announces today a trading update in regard to United Group’s trading for the year ended December 31, 2019, as well as certain trading information for Bulgaria Telecommunications Company EAD (together with its subsidiaries, the “Vivacom Group” or “Vivacom”) for the year ended December 31, 2019, and certain unaudited pro forma financial and other data giving effect to the previously-announced acquisition of Vivacom (the “Vivacom Acquisition”). On November 7, 2019, United Group announced the Vivacom Acquisition. The Vivacom Acquisition provides United Group with an attractive investment opportunity that strengthens United Group’s scale and leadership across South Eastern Europe, and provides it with material upside potential. We also see significant opportunities to leverage United Group’s experience in focusing customer value propositions on multi-play bundles and driving cross- selling and direct channel strategies that have been successful in other markets. The Vivacom Acquisition increases United Group’s addressable market by approximately 35% in terms of population and more than doubles United Group’s existing subscriber base. United Group Based on the preliminary results of United Group’s unaudited management accounts for the year ended December 31, 2019, and other information currently available, we estimate revenue for the period to be between €740 million and €744 million, compared to €636 million for the year ended December 31, 2018. This improvement is attributable to organic business growth and the full-year impact of the acquisitions of Nova Croatia and Direct Media/Pink. Adjusted EBITDA is estimated to be between €294 million and €298 million for the year ended December 31, 2019, up from €261 million in the prior year. United Group estimates that the last two quarter annualized run-rate Adjusted EBITDA for United Group for the year ended December 31, 2019 will be between €289 million and €293 million. Cash and cash equivalents on the balance sheet amounted to €254 million as of December 31, 2019. As of December 31, 2019, United Group had approximately 3,917 thousand revenue- generating units (“RGUs”) compared to 3,788 thousand RGUs as of December 31, 2018. Blended Cable ARPU for the period is estimated to reach between €22.6 and €23.1, compared to €22.0 for the prior year, primarily driven by price increases in the beginning of 2019 and the continued positive impact of subscribers upgrading to multi-play packages. In addition, the Issuer also announced on January 20, 2020 that it had received commitments to extend the maturity date of its existing revolving credit facility and received additional commitments from certain lenders in an aggregate amount equal to €250 million. Vivacom Group Based on the estimated preliminary results of Vivacom’s unaudited management accounts for the year ended December 31, 2019, and other information currently available to Vivacom management, revenue for the year is estimated to be between €505 million and €510 million, up from €485 million for the year ended December 31, 2018. The estimated revenue increase is due to the growth in mobile, fixed broadband and fixed pay-TV services revenue. For the year ended December 31, 2019, Vivacom’s management estimates that Adjusted EBITDA will be between €195 million and €200 million, excluding IFRS 16 effects, compared to €184 million for the twelve months ended December 31, 2018. Vivacom’s annualised Adjusted EBITDA for the six months ended December 31, 2019 is expected to be between €200 million and €205 million, excluding IFRS 16 effects. As of December 31, 2019, cash and cash equivalents on the balance sheet was €41 million. As of December 31, 2019, Vivacom had approximately 1,240 thousand homes passed and 2,985 thousand mobile subscribers, compared to 1,187 thousand and 3,073 thousand as of December 31, 2018, respectively. ARPU, including the effects of IFRS 15, equated to €6.4, up from €5.8 in the previous year, primarily driven by the uptake of premium packages and increased data usage. Combined Data We estimate that as of September 30, 2019, United Group, Vivacom and Tele2 Croatia (the “Combined Group”) collectively passed 3.5 million homes and had 9.5 million RGUs and 1.4 million unique subscribers. Based on unaudited pro forma financial information and the estimated results of Tele2 Croatia, revenue of the Combined Group was €1,440 million for the twelve months ended September 30, 2019, with €313 million of adjusted capital expenditures in the period. For the twelve months ended September 30, 2019, the last two quarter annualized run-rate adjusted EBITDA for the Combined Group was €570 million. Cautionary Statement 2 This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offer, solicitation or sale is unlawful. The financial data presented above is based on preliminary management accounts and has not been audited, reviewed or verified by United Group’s or the Vivacom Group’s (as applicable) independent auditors, and you should not place undue reliance on it. During the course of the financial statement completion process for the year ended December 31, 2019, items that would require adjustments to be made and which could affect the final results of operations for the periods presented above could be identified. In particular, no assurances can be made that the acquisition of the Vivacom Group or the acquisition of Tele2 Croatia will be completed. Statements in this press release which are not historical facts are forward-looking statements. All forward-looking statements involve risks and uncertainties which could affect United Group’s actual results and could cause their actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, United Group. The forward-looking statements and information contained in this announcement are made as of the date hereof and United Group undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This announcement is only addressed to and directed at persons in member states of the European Economic Area (the “EEA”) who are “qualified investors” within the meaning of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and must not be acted on or relied on by other persons in that member state. This press release is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 in connection with the issue or sale of any securities may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). Any investment activity to which this communication relates will only be available to, and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents. MiFID II retail investors, professional investors and ECPs target market - Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as any securities are not available to any retail investor in the EEA. 3 .
Load more

Recommended publications
  • Case M.9152 - BC PARTNERS / UNITED GROUP
    EUROPEAN COMMISSION DG Competition Case M.9152 - BC PARTNERS / UNITED GROUP Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 17/12/2018 In electronic form on the EUR-Lex website under document number 32018M9152 EUROPEAN COMMISSION Brussels, 17.12.2018 In the published version of this decision, some C(2018) 9046 final information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and PUBLIC VERSION other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general description. To the notifying party Subject: Case M.9152 – BC Partners / United Group Commission decision pursuant to Article 6(1)(b) of Council Regulation No 139/20041 and Article 57 of the Agreement on the European Economic Area2 Dear Sir, (1) On 16 November 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which BC European Capital X ("BCEC X"), ultimately controlled by BC Partners LLP ("BC Partners", United Kingdom), acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of United Group BV ("United Group", the Netherlands), by way of purchase of shares (the "Transaction").i BC Partners is referred to as the "Notifying Party". BC Partners and United Group are collectively referred to as "Parties". 1. THE PARTIES (2) BC Partners is a private equity firm, specialising in buyouts and acquisitions financing in Europe and the United States.
    [Show full text]
  • BC Partners-Owned United Group Makes Strategic
    BC Partners-Owned United Group Makes Strategic Investment in Greece’s Forthnet Third large-scale acquisition and eleventh in total under BC Partners’ ownership Expands United Group platform’s presence into Greece and cements its position as the leading telecoms and media operator in South Eastern Europe Amsterdam and London, 29 May 2020: United Group, the leading telecoms and media operator in South Eastern Europe, has agreed to acquire the debt and a significant minority interest in Forthnet S.A., a prominent telecoms and pay-TV provider in Greece. The transaction will see United Group acquire all of the company’s loan obligations, the convertible debt and an initial 36% of the company’s shares following the successful conclusion of negotiations between National Bank of Greece, Alpha Bank, Piraeus Bank and Attica Bank (the “Sellers”) and United Group (the “Purchaser”). Further details of the transaction were not disclosed and it is subject to customary regulatory approvals. This investment marks the third large-scale transaction since BC Partners acquired United Group in March 2019, following the acquisitions of Croatia’s Tele2 and Bulgaria’s Vivacom in 2019, which altogether increase United Group’s size to €1.7 billion of pro-forma revenues. The firm’s entry into the Greek market is another milestone in its European growth strategy, and it further cements its position as the industry leader operating in eight countries across the region. Forthnet is a leading provider of home entertainment and communications services in Greece, with nearly 1,000 employees, providing services to nearly 700,000 subscribers and over 40,000 companies.
    [Show full text]
  • No Transmission of Critical Voices
    February 2020 Media Progamme South East Europe No Transmission of Critical Voices Hendrik Sittig, Darija Fabijanić In Serbia there is currently an economic crime thriller happening on the television market and this before the parliament elections on the 26th April. The story is about several cable providers and the media group „United Media“ (parent enterprise: „United Group“) with its TV channel N1 that belongs to the media companies in Serbia which report critically about the government. The state-owned cable provider “Pošta Net“ has already removed the channels of United Media from its programme last December because they couldn’t agree on a contract renewal. As a result, many households couldn’t receive N1 anymore. Since Mid-January more viewers are affected, as the cable provider under the state „Telekom Serbia“ hasn’t prolonged their contracts either. A public exchange with accusations of political and economic interference between the players followed. Similar situations in the neighbouring countries can be observed. But let’s be clear from the get-go: The situation is more complicated than that and political reasons are not the only explanation for it. Serbia: Commercial conflict or political influence before the elections? The public dispute between the two telecommunication companies Telekom Serbia and United Group which has its own cable providers and the media company “United Media”, has been dominating the headlines in Serbia for several days now. The cable providers of the brand “Supernova” which belong to Telekom didn’t prolong the contract for transmitting the “United Media” channels. Therefore, since January about 200 000 households can’t watch 17 channels.
    [Show full text]
  • Eutelsat S.A. €800,000,000 2.000 Per Cent Bonds Due 2 October 2025 Issue Price: 99.400 Per Cent
    EUTELSAT S.A. €800,000,000 2.000 PER CENT BONDS DUE 2 OCTOBER 2025 ISSUE PRICE: 99.400 PER CENT The €800,000,000 aggregate principal amount 2.000 per cent. bonds due 2 October 2025 (the Bonds , and each a Bond ) of Eutelsat S.A. (the Issuer ) will be issued on 2 October 2018 (the Bond Issue ). Each Bond will bear interest on its principal amount at a fixed rate of 2.000 per cent. per annum from (and including) 2 October 2018 (the Issue Date ) to (but excluding) 2 October 2025, payable in Euro annually in arrears on 2 October of each year and commencing on 2 October 2019, as further described in "Terms and Conditions of the Bonds – Interest". Unless previously redeemed or purchased and cancelled in accordance with their terms and conditions, the Bonds will be redeemed at their principal amount on 2 October 2025 (the Maturity Date ). The Issuer may, at its option, and in certain circumstances shall, redeem all (but not part) of the Bonds at par plus any accrued and unpaid interest upon the occurrence of certain tax changes as further described in "Terms and Conditions of the Bonds – Redemption and Purchase – Redemption for tax reasons". The Bonds may also be redeemed (i) at the option of the Issuer, in whole or in part, at any time, prior to the Maturity Date, as further described in "Terms and Conditions of the Bonds — Redemption and Purchase — Make Whole Redemption by the Issuer", (ii) at any time prior to the Maturity Date, in whole (but not in part), at par plus accrued interest, if eighty (80) per cent.
    [Show full text]
  • Sustainability of Professional Journalism in the Media Business Environment of the Western Balkans
    NATIONAL DATA OVERVIEW: BOSNIA AND HERZEGOVINA SUSTAINABILITY OF PROFESSIONAL JOURNALISM IN THE MEDIA BUSINESS ENVIRONMENT OF THE WESTERN BALKANS This report is based on the Study that has been carried out by a team of researchers including: Lead researcher: Brankica Petković, Peace Institute, Ljubljana, Slovenia Regional researcher: Sanela Hodžić, Mediacentar, Sarajevo, Bosnia and Herzegovina National researchers: Sanela Hodžić and Anida Sokol Language editing: Stephen Yeo, Michael Randall and Toby Vogel Research conducted: June-November 2019 Report published: June 2020 This research reflects the economic position and needs of independent media outlets in 2018 and 2019, with the majority of market data pertaining to 2018 and research being finalised in November 2019. The report does not cover the dramatic changes occurring in 2020, when the economic consequences of the COVID-19 pandemic dealt yet another blow to media businesses and further diminished the pros- pects for sustainability of independent media in the Western Balkans. This document has been produced within the EU TACSO 3 project, under the financial assistance of the European Union. The contents of this document are the sole responsibility of the team of researchers and can under no circumstances be regarded as reflecting the position of the European Union. Copyright notice © European Union, 2020 Reproduction is authorised, provided the source is acknowledged, save where otherwise stated. It is in line with the: 1. EU communication and visibility requirements page 24 https://ec.europa.eu/europeaid/sites/devco/files/communication-visibility-requirements-2018_ en.pdf 2. The new Copyright Directive from July 2020 https://ec.europa.eu/commission/presscorner/detail/en/MEMO_19_1151 Disclaimer This publication has been produced with the assistance of the European Union.
    [Show full text]
  • BOSNA I HERCEGOVINA Konkurencijsko Vijeće БОСНА И ХЕРЦЕГОВИНА Конкуренцијси Савјет
    BOSNA I HERCEGOVINA БОСНА И ХЕРЦЕГОВИНА Konkurencijsko vijeće Конкуренцијси савјет RJEŠENJE pо Zahtjevu privrednog subjekta Dioničko društvo BH Telecom Sarajevo, Bosna i Hercegovina protiv privrednih subjekata SPORT KLUB d.o.o. Sarajevo, Bosna i Hercegovina i United Media Distribution S.R.L. Bukurešt, Rumunija Sarajevo decembar, 2017. godine BOSNA I HERCEGOVINA БОСНА И ХЕРЦЕГОВИНА Konkurencijsko vijeće Конкуренцијси савјет Broj: 04-26-2-005-113-II/15 Sarajevo, 20.12.2017. godine Kоnkurеnciјsko vijeće Bosne i Hercegovine, na osnovu člana 25. stav (1) tačka e) i člana 42. stav (2) Zakona o konkurenciji („Službeni glasnik BiH“, broj 48/05, 76/07 i 80/09), Zakona o upravnim sporovima BiH („Službeni glasnik BiH“, broj 19/02, 88/07, 83/08 i 74/10), u postupku pokrenutom po Zahtjevu za pokretanje postupka privrednog subjekta Dioničko društvo BH Telecom Sarajevo, Franca Lehara 7, 71 000 Sarajevo, Bosna i Hercegovina protiv privrednog subjekta „SPORT KLUB“ d.o.o. Sarajevo, Hajrudina Šabanije 49, 71 000 Sarajevo, Bosna i Hercegovina i privrednog subjekta United Media Distribution S.R.L., Str. G-RAL Davida Prapogescua br. 1-5. stan 12, sector 2, Bukurešt, Rumunija, zbog sprečavanja, ograničavanja i narušavanja tržišne konkurencije u smislu člana 10. stav (2) tačke a), b) i c) i člana 4. stav (1) tačke b) i d) Zakona o konkurenciji, nа 15. (petnaestoj) sјеdnici оdržаnој 20.12.2017. gоdinе, dоnijelo je RJEŠENJE 1. Utvrđuje se da je privredni subjekt United Media Distribution S.R.L., Str. G-RAL Davida Prapogescua br. 1-5. stan 12, sector 2, Bukurešt, Rumunija, putem svog zastupnika privrednog subjekta „SPORT KLUB“ d.o.o.
    [Show full text]
  • Download Document
    ACT PRESS RELEASE Brussels, 14 June 2019 ASSOCIATION OF COMMERCIAL TELEVISION IN EUROPE WELCOMES NEW MEMBERS LNK TV GROUP & UNITED MEDIA BRUSSELS, 14 June 2019. The Association of Commercial Television in Europe (ACT) is delighted to welcome LNK & United Media as new members. Commenting on the new membership, Grégoire Polad, ACT Director General, stated: "We are delighted to welcome LNK & United Media as new members of ACT. This confirms ACT’s ongoing growth in membership based on solid services to members and impactful representation. ACT continues to grow its presence as the unified voice of commercial broadcasting for investing, promoting and distributing Europe’s creative and cultural works”. LNK TV GROUP is the biggest and the most watched television group in Lithuania. The group consists of 5 TV channels LNK, BTV, TV1, INFOTV, LIUKS! and www.lnk.lt (VOD platform). The group accounts for 24.3% of Lithuania’s TV market. Zita Sarakiene, CEO of LNK TV GROUP, stated, “LNK is delighted to add its voice to that of other leading commercial broadcasters in Europe by joining ACT. ACT continues to have a tremendously positive impact in supporting broadcasters to work together on the challenges faced by the audiovisual sector, in Europe and globally”. United Media’s national free-to-air TV channels Nova, Nova BH, Nova M and Doma are commercial TV stations with the highest viewer ratings in Croatia and in Bosnia & Herzegovina. United Media’s 25 Pay TV channels such as SportKlub, Grand and N1, provide a combination of sports, news, entertainment, movies, and kids’ shows for audiences of all ages across the South Eastern Europe.
    [Show full text]
  • Ekinops Selected by United Group to Build Next-Gen Optical Transport Network in Croatia
    PRESS RELEASE Ekinops selected by United Group to build next-gen Optical Transport Network in Croatia Paris, June 15th, 2021 – Ekinops (Euronext Paris - FR0011466069 – EKI), a leading supplier of advanced optical transport systems and access network solutions, today announces United Group has chosen Ekinops’ innovative DWDM solution to build optical fiber networks for its Croatian subsidiary, Telemach Hrvastska. Dutch-based United Group is the leading provider of telecommunications services and media in Southeast Europe. The company – whose telecommunications brands include Telemach, Vivacom, SBB, and Nova – expects to invest more than EUR 500 million over the next five years to extend its optical fibre networks into new areas and upgrade existing ones. “United Group is committed to empower Croatia and Southeast Europe with innovative and futureproof connectivity solutions across mobile and fixed services,” says Željko Batistić, Vice President Technology, United Group. “Central to this is a fiber optic network that’s both robust and flexible enough to meet the needs of subscribers today and as demands evolve. Having worked with Ekinops previously across other affiliates, we’re delighted that its strong technical expertise and collaborative approach have once again delivered a solution that strikes a compelling balance between cost, quality of service and speed.” Ekinops’ 200G and 400G FlexRate™ single carrier solutions are being combined with its Flex Grid ROADM architecture to enable the long-term flexibility needed across both the regional and core networks. With the proposed architecture, including the Ekinops advanced software control and creation mechanisms of Celestis NMS, United Group and Telemach Hrvatska can upgrade networks easily and quickly by simply adding new circuits to the main hub locations.
    [Show full text]
  • Contribution by United Group to the BEREC Public Consultation on The
    BoR PC04 (18) 10 SUBMISSION TO CONSULTATION ON BEREC’S DRAFT WORK PROGRAMME 2019 United Group This document contains the submission from United Group B.V. to the consultation about the draft Work Programme 2019 of BEREC, and more specifically with regard to chapter 6.17 concerning International Cooperation. While headquartered in the Netherlands, United Group is the leading vertically integrated private sector telecommunications and media company in the Balkan region, with operations in Serbia, Slovenia, Bosnia & Herzegovina, Croatia, Montenegro and Macedonia. The current majority shareholder of United Group is private equity investor KKR, who is in the process of selling the majority stake to another private equity investor, BC Partners. Its major cable, fixed telephony and internet operations are SBB in Serbia, and Telemach in Slovenia (also mobile telephony), Bosnia & Herzegovina, and Montenegro. TotalTV is United Group’s satellite DTH business across the region. United Media is United Group’s Luxembourg-based media content and advertising business, which is distributed through SBB, Telemach, TotalTV and also through competing telecom distributors. NetTVPlus is the leading OTT-based content platform aimed at the worldwide ex-Yugoslav diaspora. Lastly, United Cloud is a subsidiary focused on technology innovation. United Group contributed directly to the economies of its four main countries by providing €473 million of telecommunications services and €117 million of media services in 2017. In total, United Group made a direct contribution to these economies by providing telecommunications and media services valued at €590 million, equivalent to 0.59% of GDP in the four core countries of operations. The total direct and indirect impact of United Group operations, so taking account of direct and indirect effects, was €1,452 million in 2017 or 1.44% of the GDP of the four core countries of its operations.
    [Show full text]
  • CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. (Exact Name of Registrant As Specified in Its Charter)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2017 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 0-24796 CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. (Exact name of registrant as specified in its charter) BERMUDA 98-0438382 State or other jurisdiction of incorporation or organization (I.R.S. Employer Identification No.) O'Hara House, 3 Bermudiana Road, Hamilton, Bermuda HM 08 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (441) 296-1431 Title of each class Name of each exchange on which registered Securities registered pursuant to Section 12(b) of the Act: CLASS A COMMON STOCK, $0.08 PAR VALUE NASDAQ Global Select Market, Prague Stock Exchange Securities registered pursuant to Section 12(g) of the Act: UNIT WARRANTS TO PURCHASE SHARES OF CLASS A COMMON STOCK None. Indicate by check mark if the registrant is a well known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for each shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • 2021 1. United Group B.V., Adria Serbia Holdco B.V. and Serbia Broadband–Srpske Kablovske Mreže D.O.O. Beograd V. Republic Of
    LIST OF ARBITRATIONS IN WHICH JUAN FERNÁNDEZ-ARMESTO HAS PARTICIPATED AS ARBITRATOR SINCE 2001 2021 1. United Group B.V., Adria Serbia Holdco B.V. and Serbia Broadband–srpske kablovske mreže d.o.o. Beograd v. Republic of Serbia, chairman (co-arbitrators: Stanimir A. Alexandrov and Raúl E. Vinuesa), ICSID Case No. ARB/21/5, investment arbitration, English language. Counsel to Claimants: Quinn Emanuel Urquhart & Sullivan, LLP and Moravčević Vojnović i partneri AOD. Counsel to Respondent: Omnia Strategy LLP, Essex Court Chambers, Williams & Connolly LLP and Law Office Anđelković (2021). 2. Encavis and others vs. Italian Republic, chairman (co-arbitrators: W. Miles QC and A. Mourre), (Administrative Secretary: A. Briones), ICSID Case No. ARB/20/39, investment arbitration, English language. Counsel to Claimants: King & Spalding. Counsel to Respondent: Avvocatura dello Stato and Ministero degli Affari Esteri e della Cooperazione Internazionale, (2021). 3. French Oil & Gas Company v. Southeast Asian State, chairman (co-arbitrators: M. Pryles AO and Z. Douglas QC), (Administrative Secretary: F. Aragón), ad hoc arbitration, concession agreements, municipal law, English language. Counsel to Claimants: Three Crowns LLP. Counsel to Respondents: Foley Hoag LLP and Watson Farley & Williams LTD, (2020). 2020 4. Arab Company and National vs. Arab State, chairman (co-arbitrators: C. Poncet and N. G. Ziadé), (Administrative Secretary: S. de Sampaio Jalles), ICC, investment arbitration under OIC Investment Agreement, administered by ICC, English language. Counsel to Claimants: DLA Piper and Dr. Ioannis Konstantinidis. Counsel to Respondent: Mr. Christopher Harris QC and Squire Patton Boggs, (2020). 5. Chinese Company and Brazilian Companies vs. Brazilian citizens, chairman (co- arbitrators: E.
    [Show full text]
  • Serbia Digital Economy & Media Development
    Digital Economy & Media Development Serbia Assessment report 2018 03 EXECUTIVE SUMMARY The main objective of this assessment is to l What are the key impediments to investment but results indicated serious problems and analyse the digital media landscape in Serbia, they face? obstacles related to media operations. with the aim of outlining the potential for future l How do they see the audience shifting and investment in communication start-ups, media market opportunities? There has also been no significant progress in digitalisation and tech solutions; to support the economic domain. Serbia has one of the l What export and regional opportunities are content production and pluralism; and to lowest average rates in the region, but also there? provide evidence-based guidance on which the a high unemployment rate, especially among l Thomson Foundation can develop its strategy How are they relating to other areas of the young people. Only the ICT industry performs for media support in Serbia. conventional media market? positively, when taking into account export and import figures. Serbian competitiveness The assessment methodology combined As the main contextual factors driving the is among the lowest in the region of south- available secondary data (reports, analyses, process of digital media development, this east Europe. The most problematic areas for existing assessments) in the area of media and assessment takes into account the political doing business in Serbia include tax rates, digital economy, publicly available raw online situation, macroeconomic trends, the media government bureaucracy and inefficiency, data (Eurostat, UNESCO, Eurobarometer), situation and the expansion of the digital access to financing, corruption and tax and 14 in-depth interviews with representatives economy and ICT sectors in Serbia.
    [Show full text]