Athens News Agency: News in English, 01-05-25

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Minoan Lines-Flying Dolphins-Forthnet-Sale

[02] Patriarch - Cappadocia - Church service

[03] Hellenic Petroleum-Privatisation-Minister

[04] Unitel Hellas-Mega Channel

[05] Ios - Water treatment unit

[01] Minoan Lines-Flying Dolphins-Forthnet-Sale

Minoan Lines, a passenger shipper listed on the Athens bourse, said on Friday that it was considering selling some of its stock in Minoan Flying Dolphins, which operates hydrofoils and catamarans, as well as in Forthnet, an internet provider.

Responding to media reports, Minoan Lines said in a statement that the sale of stock in the hydrofoil company would come in the form of an alliance involving a strategic investor in order to growth of the enterprise.

If Minoan sold stock in Forthnet, the sale would be made through a share package to a strategic investor, and not as a free float on the Athens Stock Exchange, the statement said.

In addition, any decision would be made in consultation with Forthnet's management.

Finally, Minoan Lines said it planned to raise its share capital in order to help fund the company's order for newbuildings, the statement added.

[02] Patriarch - Cappadocia - Church service

ISTANBUL (ANA) Ecumenical Patriarch Vartholomeos begins a historic visit to the Cappodocia region of east-central Turkey on Saturday, accompanied by several high-ranking Orthodox ecclesiastical leaders, pilgrims and Greek expatriates.

Vartholomeos will officiate at a series of church services in the region, once a medieval centre of Orthodox Christianity in eastern Asia Minor.

On Sunday, the Patriarch will ordain Metropolitan of Buenos Aires Tarasios as a high-ranking elder of the Orthodox Church, nearly 80 years after the last such ordination in Asia Minor, following the exchange of populations between Greece and Turkey.

[03] Hellenic Petroleum-Privatisation-Minister

The government is planning to lower its stake in Hellenic Petroleum, a major state energy group, to 35 percent from 60.1 percent, Development Minister Nikos Christodoulakis said on Friday.

Hellenic Petroleum's management was already sounding out the market in connection with a new share sale, Christodoulakis told the company's annual general meeting (AGM).

In addition, the company needed to make global alliances in order to develop a strong presence in world markets, he added.

The Hellenic Petroleum Group's consolidated profits in 2000 were 97 billion drachmas, up 47 percent percent from 64.9 billion drachmas a year earlier, its president and managing director, Eleftherios Tzellas told the AGM.

Consolidated turnover was 1,440 billion drachmas from 824 billion drachmas in 1999, marking a 75 percent increase, Tzellas said.

Management aimed to keep profits steady in 2001 following a downturn in the first quarter, he added.

Shareholders approved management's proposal of a 70 drachma dividend per share on profits for 2000.

[04] Unitel Hellas-Mega Channel

Unitel Hellas, a member of the Quest Group, is to transmit the Mega television channel's satellite programmes to Australia under a five-year contract, it said on Friday.

Also involved is Tarbs (Australian Ethnic Broadcaster). Signing for Mega was Athens-quoted Teletypos, the channel's owner, Unitel said in a statement.

Unitel transmits Mega's satellite programming to the US, the statement added.

[05] Ios - Water treatment unit

A new water treatment plant on the popular Cyclades holiday island of Ios will be inaugurated on Saturday.

The unit, built at a cost of 240 million drachmas above the picturesque Milopotas beach, is projected to pump out 2,300 cubic metres of tap water daily, significantly alleviating the arid islands water shortage during the crucial summer months and meeting land irrigation needs during the off season. (One euro equals 340.750 drachmas)

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