Correspondent, New York
Megan's Feed
Feb 25, 2014

Russian banks which lent to Ukraine companies at risk-Fitch

MOSCOW, Feb 25 (Reuters) – Russian banks which made loans to
Ukrainian companies or businessmen who bought assets there are
at risk if the country’s economy falls into recession or the
currency devalues, Fitch credit rating agency said on Tuesday.

Ukraine this week appealed for $35 billion over two years to
hold up its economy following the ouster of President Viktor
Yanukovich. Its economy flatlined in 2013 and the hryvnia
currency has fallen 8 percent in three months.

Feb 24, 2014

Russian banks could easily absorb Ukraine credit losses – Moody’s

MOSCOW, Feb 24 (Reuters) – Russian banks could easily absorb
any credit losses stemming from Ukraine’s crisis from their
earnings this year, a managing director at credit rating agency
Moody’s in Moscow said.

Ukraine on Monday appealed for $35 billion over two years to
hold up its economy following the ouster of President Viktor
Yanukovich. Its economy flatlined in 2013 and the hryvnia
currency has slid 8 percent in three months.

Feb 20, 2014

Mail.Ru and Yandex may dual list in Moscow

MOSCOW, Feb 20 (Reuters) – Russian Internet companies
Mail.Ru and Yandex may seek to list their
shares in Moscow to add to primary listings in London and New
York, they said on Thursday.

Russian firms with an overseas focus have tended to list on
international exchanges such as London and New York so they can
gain inclusion on indices such as the FTSE, to widen their
shareholder base and boost their valuation.

Feb 20, 2014

London-listed Mail.Ru plans share offer in Moscow

MOSCOW, Feb 20 (Reuters) – London-listed Russian Internet
group Mail.Ru plans to also list its shares in Moscow
in the near future, its chief financial officer said on

Mail.Ru went public in London in November 2010, listing
global depositary receipts and raising $912 million.

Feb 12, 2014

With Khodorkovsky out, Yukos investors fight on

MOSCOW (Reuters) – Freed former tycoon Mikhail Khodorkovsky has ruled out trying to recover the fortune that made him Russia’s richest man, but two multi-billion-dollar law suits involving his defunct oil giant Yukos could be decided this year.

Pardoned by President Vladimir Putin in December after 10 years in jail for fraud and tax evasion, Khodorkovsky, 50, has bowed out of the ring, but the ex-managers and shareholders of Yukos fight on for compensation from the Russian Federation.

Feb 3, 2014

Russian hypermarkets group Lenta to float shares in London

MOSCOW, Feb 3 (Reuters) – Russian hypermarkets retailer
Lenta is to list its shares in London, the company said on
Monday, potentially raising at least $1 billion and tapping the
demand from investors for consumer-focused businesses buoyed by
Russia’s rising middle class.

Such businesses have proven popular for overseas investors
with Russia’s second largest telecoms company Megafon
floating in London 2012, with the share price now 50
percent higher than its flotation price.

Feb 3, 2014

Goldman bets on Russian consumer with fitness deal

MOSCOW (Reuters) – Investment bank Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) is increasing its investment in an upscale chain of fitness clubs founded by a Russian former fencer, betting lifestyle spending will grow despite an economic slowdown and slide in the rouble currency.

Goldman’s Special Situations Group (SSG) has been clinching bite-sized deals in Russia, backing entrepreneurs looking to capitalize on the country’s rising middle class.

Jan 29, 2014

Russia’s Lenta may launch London IPO next week – sources

MOSCOW, Jan 29th (Reuters) – Russian hypermarket chain
Lenta, part-owned by U.S. private equity firm TPG,, may
proceed with its London initial public offering as early as next
week, three sources familiar with the matter said.

The company will be seeking to tap demand from investors for
consumer-focused stocks buoyed by a rising middle class,
although there are concerns about the impact Russia’s faltering
economy will have on spending.

Jan 28, 2014

Russian mobile firm Vimpelcom slashes dividend, spooking investors

MOSCOW, Jan 28 (Reuters) – Vimpelcom, Russia’s third
biggest mobile operator, said it would slash its dividend to pay
down debt piled up in an aggressive expansion drive, marking an
unexpected policy shift that spooked shareholders.

Vimpelcom’s expansion into Africa, Asia and continental
Europe left the group with more than $20 billion in debt,
according to its latest quarterly results. [ID nL5N0IR0PC]

Jan 15, 2014

Russian car sales seen down for second year in row

MOSCOW, Jan 15 (Reuters) – Russian car sales fell in 2013
and face another weak year as a stuttering economy puts off
buyers, dealing a blow to western automakers that have invested
heavily in the country on the expectation it would soon become
Europe’s biggest car market.

A lobby group for Europe’s top carmakers said on Wednesday
sales of new cars in Russia fell 5.5 percent last year, bringing
three years of double-digit growth to an abrupt end.