Intereuropa Shares Down Amid Merger Doubts
Thursday, November 18, 1999
Slovenian shipping firm Intereuropa fell over four percent by midday trade on Wednesday amid fears that the government may not approve its proposed merger with port operator Luka Koper.
At one point during the day, shares of Intereuropa were down 4.58 percent at 2,480 tolars ($13.03) on volume of 5,526 shares, although the company earlier in the morning reported a 24 percent in group nine-month net profit.
Traders said there was no explanation for the drop other than the possibility that some believe the merger with Luka Koper will not happen.
The government debated the merger on Tuesday in a session closed to media. A decision is expected by the end of the month.