Standart Daily
BY Jullee Moskov
Dr Josef Taus chairs the board of the Austrian Industrial Group. It is grouped around the Bank of Austria and comprises leading companies and banks from the Alpine Republic and Germany. He is also a member of the board of the Austrian Investments Fund and of an Austrian Publishing Group. He's been in politics for many years. He has been a banker, a state secretary and lectures in California. For almost 20 years he was deputy in the Austria's parliament. He started his career as a journalist dealing with economy problems.
Mr. Taus, some time ago the news broke that you were negotiating on the deal of M-Tel? Can we say that this deal is closed?
Economically and legally, the deal is closed. Though, you know, there are some formalities that have to be done with in a short time. The deal is expected to be closed till end-January.
May we call it the biggest Austrian investment in Bulgaria?
Yes, it is right. We are a big group of investors, united around the Bank of Austria, PS Kar Group and the Bavarian Kommerzbank. As for our scale, it can be judged by the fact that it manages assets for over 50 billion euros. So, we have enough funds we are willing to invest here.
What will be your new role in MobilTel?
After we close the deal, I will chair the Supervisory Board. We studied the markets in Bulgaria and the Balkans, for one thing. We looked the company over and it is in a good shape. This is why, from our point if view, the deal of MobilTel is a good investment. It is pivotal to us, that Bulgaria become an EU member in a short time. Austria is a small country and so is Bulgaria. The number of the population in both countries is almost the same and so is the territory. From our point of view, we are a highly industrialized country. Bulgaria should become a part of the European telecommunications network. So, from our point of view, it is worth to invest in Bulgaria.
To you, when will Bulgaria meet the EU criteria and be accessed to the Union?
A difficult question. You know, there are regulation to be worked out and most of all, the directives of the European Commission and the criteria of Copenhagen and Maastricht to be met. Your legislation should be harmonized with the European one. But we think that all this should take place in a short time.
Can we say that the deal in question is a step in that direction and what will your personal commitment be?
Yes, I think so. Austrian investors are known all over the world through their know-how, traditions and innovative approach. As for me personally, I'm willing to share my experience and skills. You remember that Austria joined the EU later and in this sense we may be very helpful to you.
How do you view the future of MobilTel?
I hope that we will be able to use our experience in the telecommunications markets, then to see what the situation in Bulgaria is and what the world trends in mobile communications are. For now, we are making only short-term forecasts. It is a common opinion, that the telecommunications in Bulgaria are developing successfully. We have enough time to additionally study the market to analyze the situation as profoundly as possible.
Do you find that Bulgaria has a prospective telecommunications market?
You have chances for development unused as yet. I already had talks with the managers of MobilTel and my impression was that this is an emerging market with good prospects and chances. This is why we came here - to work towards this.
Will the team of managers be reshuffled?
I think that the management is first-class. I rely on their skillfulness.
Did you meet any representatives of the government?
Yes, I already met Transport Minister Plamen Petrov and Financial Minister Milen Velchev. We discussed the business philosophy of the government and the economic policy now and in the future. Both in Austria and Bulgaria, we rely on an open and fair dialogue with the government.
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