ADD to BW1003 MATAV-CABLE-SYSTEMS.--(BUSINESS WIRE)-- ADD to BW1003 (MATAV-CABLE-SYSTEMS) new paragraph following 7th graf, which ends xxx December 3, 1998. Barak ITC ITC (Brit) n abbr (= Independent Television Commission) → Fernseh-Aufsichtsgremium ITC n abbr (BRIT) (= Independent Television Commission) → (1995), in which MATAV MATAV Magyar Tavkozlesi Vallalat (telephone company; Hungary) holds 10%, reported losses for the first nine months of 1998 of approximately of $173 million NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. of which $70 million NIS was recorded in the third quarter. The increase in the loss from the second quarter to the third derives primarily from the devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. of the New Israeli Shekel relative to the US dollar. Barak's results for the first nine months are, in general, in line with its expectations. Since MATAV records Barak's results on a cost basis, these results have no impact on MATAV's reported results. |
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