Correspondent, New York
Megan's Feed
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.

Dec 5, 2012

Credit Suisse moves Russia investment banking to London

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.

Dec 4, 2012

Norilsk billionaires end feud with Abramovich as enforcer

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
Abramovich.

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.

Nov 30, 2012

New York exchange courts Russian companies

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.

Nov 28, 2012

Shares in Russia’s MegaFon fall on market debut

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
.

Nov 28, 2012

Russia’s MegaFon has muted London IPO debut

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).

Nov 27, 2012

MegaFon IPO seen pricing at lower end: sources

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).