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  • FBC to ease requirements for market makers
  • Morgan Stanley Dean Witter and Chase Manhattan have set up a £1.3 billion ($1.95 billion) working capital facility and a £2.5 billion senior facility for NTL Communications, helping to cover the acquisition of Cable & Wireless' UK residential cable business.
  • Poland changes law on bonds
  • EU adopts directive on e-commerce
  • Five law firms have been involved in the UK government's latest Private Finance Initiative financing deal, which closed on June 22. The project is to build new accommodation for Government Communications Headquarters (GCHQ), and is valued at £452 million ($683 million).
  • Swedish Securities Council issues statement on mandatory bids
  • Turkey amends Banks Act
  • Partners at White & Case and German firm Feddersen Laule Ewerwahn Scherzberg Finkelnburg Clemm voted last month to merge the two firms with effect from July 1. The move is the first significant merger between a US and German firm and is the largest strategic move into Germany from the US since Shearman & Sterling arrived in the early nineties.
  • Regulation of the European securities market was top of the agenda at the recent Capital Markets Forum Euro Seminar in Frankfurt. Some speakers chose to play it safe, but the European Central Bank's general counsel took the opportunity to lay his cards on the table. Rufus Jones reports.
  • The UK's Prudential has launched the first internet-only offering of shares, valuing the company at approximately £1.3 billion ($1.95 billion). The issue was a primary and secondary offering of 20% of the company's stake in Egg. Egg is a provider of on-line banking and financial intermediate services.