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

Moscow Exchange to float, could raise $500 million

MOSCOW, Jan 21 (Reuters) – Moscow’s stock exchange plans to
float on its own platform, seeking to revitalise Russia’s
capital markets and convince companies to list domestically
rather than abroad.

Shareholders of the Moscow Exchange, Russia’s main venue for
trading in stocks, bonds, foreign exchange and derivatives, are
expected to sell stock worth at least $500 million, one source
familiar with the situation said on Monday.

Jan 16, 2013

Vimpelcom aims to boost cashflow by $2.9 billion over three years

MOSCOW (Reuters) – Telecoms group Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz), with assets in Russia, Italy and various emerging markets, aims to deliver a major boost of up to $2.9 billion in annual cashflow by the end of 2015 to improve shareholder value.

In its first investor day since 2011, Vimpelcom pledged to pay dividends equivalent to a 7 percent yield as it vies for investor dollars with its Russia-focused rivals, New York-listed MTS (MBT.N: Quote, Profile, Research, Stock Buzz) and recently-floated MegaFon (MFON.MM: Quote, Profile, Research, Stock Buzz) (MFONq.L: Quote, Profile, Research, Stock Buzz).

Jan 16, 2013

Vimpelcom aims to boost cashflow by $2.9 bln over 3 yrs

MOSCOW, Jan 16 (Reuters) – Telecoms group Vimpelcom,
with assets in Russia, Italy and various emerging markets, aims
to deliver a major boost of up to $2.9 billion in annual
cashflow by the end of 2015 to improve shareholder value.

In its first investor day since 2011, Vimpelcom pledged to
pay dividends equivalent to a 7 percent yield as it vies for
investor dollars with its Russia-focused rivals, New York-listed
MTS and recently-floated MegaFon .

Jan 15, 2013

Russia’s NefteTransService plans London IPO

MOSCOW, Jan 15 (Reuters) – NefteTransService, one of
Russia’s biggest private freight rail operators, hopes to raise
around $500 million via a London listing, sources said, that it
will then use to expand into Ukraine and Kazakhstan as the
markets open up to competition.

Two sources with knowledge of the placement said the company
expected to offer around 25 percent of its shares. The company
confirmed its intention to float but did not disclose the amount
it aims to raise.

Jan 14, 2013

Shareholder calls for shake-up at Exillon Energy

LONDON/MOSCOW, Jan 14 (Reuters) – Russia-focused oil
producer Exillon Energy is to hold a shareholder
meeting to consider a proposal for a management shake-up at the
London-listed company by one of its biggest investors.

The shareholder, Worldview Capital Management, which said it
owns a 13 percent stake in Exillon, has called for a management
overhaul and strategic review amid what it described as “board
inexperience” and “significant underperformance”.

Jan 3, 2013

Putin makes French film star Depardieu a Russian

MOSCOW, Jan 3 (Reuters) – Russian President Vladimir Putin
has granted citizenship to Gerard Depardieu, the French movie
star whose decision to quit his homeland to avoid a tax hike
prompted accusations of national betrayal.

The “Cyrano de Bergerac” and “Green Card” actor bought a
house across the border in Belgium last year to avoid a new tax
rate for millionaires planned by France’s Socialist President
Francois Hollande, but said he could also seek tax exile
elsewhere.

Jan 3, 2013

Putin gives tax exile Depardieu Russian citizenship

MOSCOW (Reuters) – Russian President Vladimir Putin has granted citizenship to Gerard Depardieu, the French movie star who is quitting his homeland to avoid a tax hike on the rich, the Kremlin said on Thursday.

The “Cyrano de Bergerac” actor bought a house across the border in Belgium last year to avoid a new tax rate for millionaires in France planned by Socialist President Francois Hollande but said he could also seek tax exile elsewhere.

Dec 17, 2012

Russian oligarch Potanin yields in Norilsk battle

MOSCOW (Reuters) – Vladimir Potanin long exuded confidence that he would prevail over rival oligarch Oleg Deripaska in their four-year battle for control over $30 billion Russian miner Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz).

Yet, after appearing for most of that time to have the upper hand, it is Potanin who has finally had to cede control over the world’s top nickel and palladium producer, which he effectively privatized to himself back in the 1990s.

Dec 12, 2012

Renault-Nissan seals Lada deal in quest for Russian growth

MOSCOW (Reuters) – Renault-Nissan (RENA.PA: Quote, Profile, Research, Stock Buzz) (7201.T: Quote, Profile, Research, Stock Buzz) finalized a long-awaited deal to take control of Lada-maker AvtoVAZ (AVAZ.MM: Quote, Profile, Research, Stock Buzz) as it looks to snatch market share from rivals in Russia by offering affordable modern vehicles to a rising middle class.

Carlos Ghosn, leader of the Franco-Japanese alliance who was in Moscow to sign the agreement, said the deal deepens a four-year partnership it has had with AvtoVAZ to tap demand for new cars from Russians with growing salaries and rising aspirations.

Dec 5, 2012

C.Suisse moves Russia investment banking dept to London

MOSCOW, Dec 5 (Reuters) – Credit Suisse is to move
its Moscow investment banking advisory operation to London as
part of a cost-cutting drive, a source familiar with the matter
said, as a dearth of deals pushes foreign bankers away from the
Russian capital.

The news on Wednesday marks a significant, but not complete
retreat from a market which Credit Suisse entered in the chaos
that followed the break-up of the Soviet Union and did not
abandon despite the hit it took in Russia’s 1998 financial
crash.