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* Speculation is growing over the likely identity of the global coordinator for the French government's forthcoming offering of stock in state-owned steel group Usinor-Sacilor.
This week Paribas was appointed as adviser to the Tresor, while Merrill Lynch has been appointed to advise on the US aspects of the share offering.
Credit Lyonnais and SG Warburg are advisers to the company, which had already made preliminary presentations to investors as a precursor to its privatisation.
Many bankers believe Paribas is the front-runner to lead the distribution of stock. In all but one French privatisation to date, the advisers to the government have also acted as global co-ordinator.
The only exception has been the sale of stock in Elf Acquitaine, where Paribas was adviser to the company and also ran the books on the global equity offering.
In addition, an appointment of Credit Lyonnais to lead the Usinor-Sacilor deal could be difficult given the political controversy over the French government's bail-out of the state-owned bank.
This week the chairman of other large French banks voiced their displeasure at the extent and nature of the Credit Lyonnais rescue, claiming it was anti-competitive.
* The Indonesian government has announced its intention to speed up the country's privatisation programme. The government is under increasing pressure to repay high-interest foreign loans, particularly those denominated in yen.
As that currency has become more expensive, the 40%, of Indonesia's debt which was taken on in yen has become an increasing burden.
The government is in the midst of hosting beauty parades from international investment banks which are keen to secure a role in the forthcoming $1bn sale of stock in PT Telkom.
The news that it plans to widen the scope of its privatisation programme was perceived as encouraging by most houses which are competing in the process.
Said one banker recently returned from Jakarta: "This increases the chance that the government will want to develop relationships with new investment banks, rather than rely on its existing banks."
Merrill Lynch ran the books on the government's previous privatisation sale of stock in Indosat last year and...