MOSCOW, Oct 11 (Reuters) – MegaFon said the make-up of its
board would reflect its focus on good corporate governance, as
it sought to attract investors for its planned initial public
offering (IPO) after Goldman Sachs dropped out as an
The emailed statement came days after Russia’s No.2 mobile
operator revealed the surprise absence of the U.S. investment
bank in the line-up of banks running the deal. Sources had
previously said Goldman would be one of the lead banks.
MOSCOW (Reuters) – Russia’s second biggest mobile operator, MegaFon, announced its plan to sell shares in London this year and was expected to raise up to $2 billion from investors seeking a stake in the rapidly growing Russian market.
The initial public offering could value MegaFon at $13 billion and become the biggest by a Russian company since that of internet firm Yandex (YNDX.O: Quote, Profile, Research, Stock Buzz) last year. MegaFon is controlled by Russia’s richest man, Alisher Usmanov.
MOSCOW (Reuters) – Russia’s second-largest mobile phone operator MegaFon MGFON.UL, controlled by the country’s richest man Alisher Usmanov, is going ahead with an initial public offering in London that could be the biggest by a Russian company since last year’s flotation of internet firm Yandex (YNDX.O: Quote, Profile, Research, Stock Buzz).
The IPO, to be completed this quarter, will give investors the chance to buy into a purely Russian-focused phone company that is outpacing rivals such as Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz) in a rapidly growing home market.
MOSCOW (Reuters) – Alisher Usmanov, the richest man in Russia, is stabbing the air emphatically with his finger.
“With Facebook, people say I took money from the Kremlin,” he declares. “But I invested my own money.”
MOSCOW (Reuters) – England premier league side Arsenal will not win trophies if they keep selling their best players although manager Arsene Wenger has maintained an atttractive style with a changing squad, Uzbek-born shareholder Alisher Usmanov said.
Arsenal, who have not won any silverware since 2005, lost Dutch striker Robin van Persie to Manchester United (MANU.N: Quote, Profile, Research, Stock Buzz) last month for a reported 24 million pounds after Cameroon midfielder Alex Song left for Barcelona in August.
MOSCOW (Reuters) – Quarterly earnings at VTB (VTBR.MM: Quote, Profile, Research, Stock Buzz), Russia’s second-biggest bank, dropped 63 percent due to volatile financial markets and foreign exchange losses, underscoring the importance of its plan to issue new shares to bolster capital.
The state-controlled bank’s capital base has been strained by acquisitions and lending growth, and chief executive Andrei Kostin said on Wednesday it was considering a $2 billion share sale next spring after the successful sale of a $5 billion stake in larger rival Sberbank (SBER.MM: Quote, Profile, Research, Stock Buzz) this week.
MOSCOW, Sept 12 (Reuters) – Russian tycoon Mikhail
Prokhorov’s Onexim group is in talks with two potential buyers
to sell its near-$4 billion stake in the country’s largest gold
miner, Polyus Gold.
The company’s announcement on Wednesday signals the
abandonment by the businessman-turned-politician of his attempt
to use Polyus as a platform for a global merger, as valuations
of gold miners languish at their lowest in 17 years in relation
to rallying gold prices.
MOSCOW (Reuters) – Banker and media magnate Alexander Lebedev said on Thursday he could sell his business assets in Russia after coming under pressure from the Kremlin, adding he feared he might be jailed in a criminal case he regards as politically motivated.
Lebedev also said Russia could face a wave of political repression following a series of moves since Vladimir Putin returned to the presidency on May 7 that opposition leaders have described as a crackdown on dissent.
MOSCOW/LONDON, July 30 (Reuters) – BP’s oligarch
co-owners in TNK-BP blocked a $1 billion dividend from
the Russian oil business on Monday, signalling a new low for a
troubled relationship which is heading for divorce.
The decision by the AAR consortium, grouping tycoons Mikhail
Fridman, German Khan, Viktor Vekselberg and Len Blavatnik, comes
after the British oil firm put its 50 percent stake in TNK-BP up
for sale last month.
MOSCOW (Reuters) – State oil company Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz) waded into the dispute between BP and its Russian partners on Tuesday, saying it is in talks to buy half of the troubled venture in a reminder the Kremlin is likely to fire the final shot in the battle.
British oil major BP (BP.L: Quote, Profile, Research, Stock Buzz) has said it is seeking to exit its troubled but lucrative investment in Russia’s third-largest oil company, TNK-BP (TNBP.MM: Quote, Profile, Research, Stock Buzz). It formed the 50:50 joint venture with AAR, the consortium representing the tycoons, nearly a decade ago to tap into the country’s vast energy reserves. The group is now estimated to be worth as much as $30 billion.