Great history of privatization of “Lietuvos telekomas” that lasted for four years ened. Our home telephones are already in the hands of the owners.

Great history of privatisation of “Lietuvos telekomas” that lasted for four years ended. During the short decade of Independence this was the first strategic object that fell into the private hands. The largest “Lietuvos telekomas” shareholding – 60 % is managed by Scandinavians “Telia” and “Sonera”. At last, in 1998,after long and interesting negotiations, this shareholding of “Lietuvos telekomas” was bought by these companies.

But for already several days shares of “Lietuvos telekomas” are sold to everyone who is willing to buy them. For a few days the sitizens are able easily buy and sell 25% of “Lietuvos telekomas” shares. Because of too law damand for the shares the State has left last 10% for itself, until “Lietuvos telekomas” market will face better times.

According more optimistic forecasts, the State expected to receive 1 billion Litas for 35% of “Lietuvos Telekomas” shares, but the prise of shares fell to a minimum. So, instead of obtaining a billion the State will have to rejoice in only 640 million of Litas. Why did it happen so?The experts notice, that now communication market is satiated up to the neck. Furthermore that in in Europe the future greater privatisations than of “Lietuvos telekomas” will take place. Perhaps because of the decline in prises Europe states are trying to sell ”Lietuvos telekomas” shares they have. Czechia, Poland, Croatia, Slovakia, Germany, Estonia, and are planning to sell their “ Telekomas”, perhaps Latvia, too. In the nearest future Swedish “Telia” is also going to sell the share holding that belongs to the State ( For their “Telekomas the Swedish are expecting to get 117.28 billions of Litas) Though money , which will be received from the sale of “ Telekomas” are beggarly, it is claimed that for the state it would be better to sell “Telekomas” to the owners as soon as possible.

The premier of Lithuania Andrius Kubilius, who on Saturdays together with the guarding and journalists go cycling along the Neris, is to think seriously of how to use money received for “Telekomas” properly.It is rumoured, that incomes from “Lietuvos telekomas” should be used for the restoration of ruble investments. In such case one will be able to hear that this money was used inefficiently, part of it will “settle in the socks”. Or it will simply be “spent on food”.

President Valdas Adamkus called out the premier A. Kubilius to have a talk with him about low “Lietuvos telekomas” prise. According to A.Kubilius’ press-attache Andrius Baèiulis, “president of course is not glad” that the prices of “Lietuvos telekomas” shares are low. Nethertheless, despite pessimism, significant activity of the citizens of Lithuania in buying “Lietuvos telekomas” shares was notieced. This is well seen to the bankers and financial brokers who watch of the aptitude of sitizens for saving money at home and not for investing it.The experts such a boom of investments equate with such times , when with the hope money was invested in already broken down “Sekunde” bank. It is thought, that even last year’s distribution of the securities among the citizens didn’t take over Lithuanians as this sale of “Lietuvos telekomas”. And though some telekomas critics think that “Lietuvos telekomas” shares should have been withheld till their value increased , and for Lithuania it should have been better to borrow money, but financial brokers hope that beginning with “Lietuvos telekomas” all the sequirity market will liven up. Already now long awaited reviving began. Financial analyst Margarita Starkevièiûtë claimed that for Lithuania it would be better to borrow money from abroad instead of selling left shares of the company. But now Lithuania already borrowed almost 30% of its GNP. And such a public debt is counted as a limit. To enlarge public debt means to digress from the EU standards.

Richard Young has arrived from Great Britain in Vilnius to give lectures for the businessmen. Comparing totally different economies of Lithuania and England, he noticed that in contradistinction to England in Lithuania two strategic objects are privatised - „Lietuvos telekomas" and „Maþeikiø nafta". At the same moment all the banks, gas and water economy is simply witing for their turn.