To implement the business combination, CanArgo would prepare and submit for CanArgo shareholder approval a Plan of Arrangement under which CanArgo would become a wholly owned subsidiary of Fountain. CanArgo is a Canadian public company. The combined company would also pursue Fountain's Stynawske project in Ukraine and the Gorisht-Kocul project in Albania together with further exploration in Georgia. The head office of the combined company would be located in Calgary, Canada. Karellia Slims went up from Lek90 to Lek110 while prices of expensive cigarettes have remained unchanged.
Some sellers blame put the blame on the wholesalers but others say the increase is artificial.
Financial experts claim however that the price increase shows that the smugglers' reserves are running out. An amount of over five millions packs seized recently by the police and sold in auction by the government has not gone into the market yet. He was commenting on detailed study of the roads' situation in the Albanian capital. He said work would start to rehabilitate the almost inexistent streets of Tirana but the money needed equals the amount of the state budget for the whole1998. The minister said Tirana is entering the new century with destroyed roads and minimal possibilities to face the increasing nedds of transportation.