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SHARES in Deutsche Telecom (DT) gained 23% this week as the market prepared for the company's Eu14bn third equity offering, in which government holding company Kreditanstalt für Wiederaufbau (KfW) will sell 6.6% of its stake. Dr Günther Bräunig, a spokesman for KfW, told Euroweek that the shares' strong performance showed that the size of the issue, which was at one time predicted to be as much as Eu20m, was well received. "It seems that the decision on size has been right," he said.

SHARES in Deutsche Telecom (DT) gained 23% this week as the market prepared for the company's Eu14bn third equity offering, in which government holding company Kreditanstalt für Wiederaufbau (KfW) will sell 6.6% of its stake. Dr Günther Bräunig, a spokesman for KfW, told Euroweek that the shares' strong performance showed that the size of the issue, which was at one time predicted to be as much as Eu20m, was well received. "It seems that the decision on size has been right," he said.

Czech Republic Arrangers Chase Manhattan and CIBC are holding a bank meeting today (Friday) in Prague for the $450m facility for Cesky Mobil. A Czech bank, thought to be Investicni Postovni Banka, has joined these two banks at the arranging level. Full details should follow next week.

Argentina * Republic of Argentina

* Goodyear Tire & Rubber Co Rating: Baa1/BBB+

Egypt * Credit Suisse First Boston and EFG Hermes launched the $150m IPO for Orascom this week. The deal will enable the company to be listed in Cairo and London through Global Depository Receipts at the end of June. The sale is expected to have significant appeal in the Gulf states where the company operates. Orascom has businesses in Africa in addition to Egypt and some Arab states.

FINMECCANICA's Eu6.8bn combined equity and equity linked fundraising is on track for success with the Eu765m convertible already twice covered, although bankers concede the equity placement will go to the wire. Merrill Lynch, Schroder Salomon Smith Barney and Mediobanca are joint global co-ordinators of the deals, which are due to be priced over the weekend. Provisional terms for the equity linked issue were released this week and stirred some controversy among the equity linked fraternity.

FINMECCANICA's Eu6.8bn combined equity and equity linked fundraising is on track for success with the Eu765m convertible already twice covered, although bankers concede the equity placement will go to the wire. Merrill Lynch, Schroder Salomon Smith Barney and Mediobanca are joint global co-ordinators of the deals, which are due to be priced over the weekend. Provisional terms for the equity linked issue were released this week and stirred some controversy among the equity linked fraternity.

THE China Unicom roadshow began on Monday, and the company hopes to raise up to $5.26bn from international investors and Hong Kong retail buyers as it targets a dual listing on the New York and Hong Kong stock exchanges. But several days into the investor presentations, Hong Kong based fund managers and researchers remain ambivalent about the company and the indicated valuation range.

It is the end of an era at Credit Suisse First Boston with the news that Chris Goekjian is calling it a day. We always regarded Goekjian as one of the best intellects in the Euromarkets and whenever we met him he was kind enough to speak in short sentences in case we were left behind. Under his leadership in Europe, which really began when his friend and former Bankers Trust colleague, Allen Wheat, moved to New York, CSFB made billions of dollars for the parent Swiss bank and CSFP, which was Goekjian's favourite baby, became one of the greatest financial success stories of the 1990s.