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.
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
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
MOSCOW, Dec 5 (Reuters) – Credit Suisse is
shuttering its investment banking operation in Moscow as part of
a drive to cut its global costs, a source familiar with the
matter said on Wednesday.
The news comes as Switzerland’s dominant banks come under
regulatory pressure to cut risk and shrink balance sheets, while
ambitious Russian state banks Sberbank and VTB
are expanding their own investment banking operations.
MOSCOW, Dec 4 (Reuters) – Two Russian billionaires ended a
four-year battle over the world’s biggest nickel and palladium
miner on Tuesday by giving the largest voting stake in their $30
billion company to a third: Kremlin-favoured tycoon Roman
Norilsk Nickel, which mines the vast mineral
deposits of Russia’s far north, was one of the biggest prizes
handed to insiders in the post-Soviet carve-up of Russian
industry that created a generation of oligarchs.
MOSCOW (Reuters) – The New York Stock Exchange hopes less stringent rules will help persuade several Russian companies to raise money on its markets next year, taking business from arch-rival London.
NYSE Euronext’s (NYX.N: Quote, Profile, Research, Stock Buzz) head of international listings, Albert Ganyushin, said legislation that makes it easier for smaller firms to obtain a stock market quote and less onerous requirements for overseas issuers could make New York more appealing.
MOSCOW, Nov 28 (Reuters) – Shares in MegaFon
fell 2 percent on their market debut on Wednesday,
following a bumpy ride for the IPO and showing limited demand
among investors for another Russian mobile issue.
Russia’s second-biggest mobile phone operator had priced its
London and Moscow offer at the bottom of a previously indicated
range, raising $1.7 billion and pitting itself against New
York-listed Russian market players MTS and Vimpelcom
MOSCOW (Reuters) – Russia’s second-biggest mobile phone operator MegaFon (MFON.MM: Quote, Profile, Research) (MFONq.L: Quote, Profile, Research) fell 2 percent in its market debut following a bumpy ride for its IPO, showing investors had limited demand for another Russian mobile stock.
Controlled by Russia’s richest man Alisher Usmanov, MegaFon priced its London and Moscow offer at the bottom of a guided range, raising $1.7 billion and pitting itself against New York-listed Russia market players MTS (MBT.N: Quote, Profile, Research) and Vimpelcom (VIP.N: Quote, Profile, Research).
MOSCOW (Reuters) – Russia’s No.2 mobile phone firm MegaFon MGFON.UL is likely to price its stock market float towards the lower end of its guided range, sources said, in an offering expected to see the company raise less than $2 billion.
MegaFon, controlled by Russia’s richest man, Alisher Usmanov, is selling global depositary receipts (GDRs) in London and Moscow, offering an alternative to New York-listed Russia market players MTS (MBT.N: Quote, Profile, Research, Stock Buzz) and Vimpelcom Ltd (VIP.N: Quote, Profile, Research, Stock Buzz).
MOSCOW (Reuters) – NefteTransService (NTS), one of Russia’s largest private rail operators, is already in talks on a further acquisition after agreeing to buy rail operator Evraztrans from steelmaker Evraz (EVRE.L: Quote, Profile, Research, Stock Buzz).
“Our strategy calls for M&A (merger and acquisition) deals … We have plans to increase the company’s scale,” board member Alexey Likhtenfeld told Reuters.
MOSCOW (Reuters) – MegaFon MGFON.UL, Russia’s No.2 mobile phone operator, hopes to raise around $2 billion in an initial public offering, it said on Thursday, launching a marketing drive to investors with a pledge to pay an attractive dividend.
MegaFon, controlled since April by Russia’s richest man Alisher Usmanov, is focused almost exclusively on Russia and is outpacing bigger rival MTS (MBT.N: Quote, Profile, Research, Stock Buzz) and smaller Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz) in a maturing, though still lucrative, mobile market.