Correspondent, New York
Megan's Feed
Jun 21, 2013

Russia eyes amnesty for economic crime – but selectively

ST PETERSBURG (Reuters) – Thousands of Russian entrepreneurs jailed for economic crimes could be a step closer to freedom after President Vladimir Putin said on Friday a draft amnesty bill was ready and may be taken up by parliament before its summer break.

But Mikhail Khodorkovsky, founder of defunct oil firm Yukos and a prominent critic of Putin, is unlikely to be released early under the amnesty which would only apply to those who have been convicted once. Khodorkovsky was convicted twice – of fraud in 2005 and again in 2010.

Jun 20, 2013

MegaFon may consider Rostelecom assets if government sells

ST PETERSBURG, June 20 (Reuters) – MegaFon
, Russia’s second largest mobile phone company, may
consider buying assets belonging to state-owned mobile firm
Rostelecom if the government sells its stake and
invites them to bid, its CEO said on Thursday.

Russia is considering selling its 53 percent stake in
Rostelecom to domestic rivals MTS, MegaFon and Vimpelcom
, Kommersant reported on Wednesday.

Jun 20, 2013

Investor puts faith in Wenger’s experience

ST PETERSBURG, Russia (Reuters) – Arsene Wenger’s experience as Arsenal manager will give the club an edge next season when English Premier League rivals have new men at the top, a major investor in the club said on Thursday.

Farhad Moshiri also said Arsenal would start to benefit from a 30-million-pound deal with Puma, echoing media reports that the German sportswear company was set to replace Nike as the club’s kit supplier.

Jun 20, 2013

Soccer-Investor puts faith in Wenger’s experience

ST PETERSBURG, Russia, June 20 (Reuters) – Arsene Wenger’s experience as Arsenal manager will give the club an edge next season when English Premier League rivals have new men at the top, a major investor in the club said on Thursday.

Farhad Moshiri also said Arsenal would start to benefit from a 30-million-pound ($47-million) deal with Puma, echoing media reports that the German sportswear company was set to replace Nike as the club’s kit supplier.

Jun 18, 2013

Russian coal miner Sibanthracite says plans London IPO

MOSCOW, June 18 (Reuters) – Russian niche coal miner
Siberian Anthracite plans to list its shares in London and could
raise up to $200 million, two market sources said, but it may
struggle to attract investors at a challenging time for coal
producers.

Sibanthracite did not disclose how much it was planning to
raise through the offering of 25 percent of its shares, but
based on the estimate from the sources, the initial public
offering would value the company as high as $800 million.

Jun 13, 2013

Exclusive: Russia’s Lenta picks banks for possible IPO – sources

MOSCOW (Reuters) – Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG TPG.UL and Russia’s VTB Capital (VTBR.MM: Quote, Profile, Research, Stock Buzz), has selected banks for a possible 2014 initial public offering (IPO), two sources familiar with the situation said on Thursday.

The banks chosen are JP Morgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz), Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz), UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz), Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz) and VTB (VTBR.MM: Quote, Profile, Research, Stock Buzz), the sources said.

Jun 13, 2013

Russia’s Lenta picks banks for possible IPO-sources

MOSCOW, June 13 (Reuters) – Russian hypermarket chain Lenta,
part-owned by U.S. private equity firm TPG and Russia’s
VTB Capital, has selected banks for a possible 2014
initial public offering (IPO), two sources familiar with the
situation said on Thursday.

The banks chosen are JP Morgan Chase & Co, Credit
Suisse, UBS, Deutsche Bank and
VTB, the sources said.

May 31, 2013

Exclusive: Founders seek more time for ENRC bid – sources

LONDON/MOSCOW (Reuters) – The three billionaire founders behind miner ENRC (ENRC.L: Quote, Profile, Research, Stock Buzz) have asked its independent board members for a three-week extension to a June 3 buyout bid deadline, seeking more time to iron out technical details, sources with knowledge of the matter said.

ENRC’s founders said in April they were weighing up a buyout of minority investors in the mining group – a move that would take the company private and end a London adventure marked by bitter boardroom battles, corruption probes and an acquisition spree that left it with $5 billion of debt.

May 31, 2013

Founders seek extension to ENRC buyout bid deadline – sources

LONDON/MOSCOW, May 31 (Reuters) – Kazakhstan’s government
and the trio of founders behind ENRC have asked the
miner’s independent board members for an extension to a buyout
bid deadline of June 3, seeking more time to iron out technical
details, sources with knowledge of the matter said.

Two of the sources said the board had been asked to allow a
21-day extension, taking the deadline to the last week of June.

May 22, 2013

Insight: No more easy pickings in Russia’s banking market

MOSCOW (Reuters) – Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for.

While players such as Citi and Austria’s Raiffeisen thrive, many have found post-Soviet Russia too hard to crack: rife with credit, legal and corruption risks, and dominated by state giants Sberbank and VTB.