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DEUTSCHE BANK and BBL have launched the IPO of Mobistar, the Belgian mobile telephone operator - a divestment by core shareholders including France Télécom and local operator Telefino, which represents one of the largest and most important deals to emerge from Belgium for some time. "This represents an excellent sector to look at for a first time buyer in Belgian equities," said one analyst. "If anything will sell in the current climate, telecoms will and Mobistar looks set to be the proxy for this sector in Belgium."

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ITALIAN UTILITY Enel successfully launched its heavily premarketed Eu1bn debut this week, proving that given careful preparation even unrated corporates can tap the Euromarkets in times of volatility. After weeks of triple-A credits maintaining a monopoly on issuance on the back of the crisis-induced flight to quality, several corporates tapped the Euromarkets.

THE KINGDOM of Belgium is to build on the success of its short term Belgian Treasury Bills programme by adding a facility for issuance in Belgian francs and the euro. Belgium set up the programme in July 1996 to issue short dated instruments outside its local currency through a dealer group.

BANQUE Nationale de Paris, Citibank and Paribas will be officially mandated by Carrefour over the next few days to arrange a jumbo Ffr19bn credit, Euroweek can exclusively reveal. The three banks have a verbal mandate from the French supermarket chain and are close to agreeing the deal's terms.