GLOBAL co-ordinators Warburg Dillon Read and JP Morgan are on course to complete the sale of stock in Swisscom next weekend. Given the appalling market conditions, the leads' success in pulling together an extremely strong book of orders has drawn warm applause from the market. The Swisscom IPO is likely to be the first in a long queue of telecom deals scheduled for the rest of the year - including NTT DoCoMo, Mobistar, TPSA and OTE. But strategists believe there is still keen demand for the sector.
September 25, 1998