Market takes a break
Swedish market rates fell last week after the Riksbank released the minutes from its latest monetary meeting.
The minutes reveal that the executive board is uncertain over future developments and that the planned hike in the repo rate has been shelved for the time being.
According to Michael Boström, an analyst at Danske Markets, most commentators consider that the Riksbank has overestimated inflation, and if this is the case then it is unlikely that the repo rate will be raised at all next year.
Government gives TV 4 go-ahead
On Wednesday, Culture Minister Leif Pagrotsky announced that the Swedish commercial channel TV 4 would retain its licence to broadcast on the analogue terrestrial network until 31 January 2008.
Price competition in mobile telephony
According to the National Post and Telecom Agency (PTS), turnover in mobile services fell by 2 per cent in the first half of 2004 to 8.6 billion crowns. Despite this, the number of traffic minutes in the mobile network increased by 10 per cent. The development is the result of greater price competition, reports PTS.
Tele 2 awarded licence in Croatia
A consortium led by Tele 2 has received a licence for GSM and 3G telephony in Croatia.
Tele 2 plans to begin extending the network in the first quarter of 2005 and to launch services during the year.
Croatia has 4.4 million inhabitants and a mobile penetration rate of some 60 per cent.
EQT acquires Munksjö
Wallenberg-dominated venture capitalist EQT is to acquire speciality paper company Munksjö from Irish Jefferson Smurfit for some 4 billion kronor.
Munksjö has a dominant position on the market for décor paper, which is used by the furniture industry and laminated floor producers. The company’s speciality papers are also used by the electronics industry.
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