Correspondent, New York
Megan's Feed
May 15, 2012

Vimpelcom net profit down but Russia unit improves

MOSCOW, May 15 (Reuters) – Telecoms operator Vimpelcom
said it was seeing signs of a turnaround in its core
Russian business, and it had a good chance of winning one of the
next-generation 4G licences to be awarded by the government.

Though overall first quarter net profit fell by nearly a
third, hit by higher taxes and rising finance costs, New
York-listed Vimpelcom said core profit in Russia had reversed a
decline seen last year and revenues were growing.

May 14, 2012

Gold exec mines for Russian deals

MOSCOW, May 14 (Reuters) – Russian miner Polymetal
is selling its S iberian g old deposit to a company founded by the
former chief executive of Ca nadian miner Centerra Gold,
who is on the hunt for other deals in the region, the companies
said on Monday.

Polymetal said on Monday it has sold the Veduga deposit to
Polygon Gold, founded by Leonard Homeniuk, a n on-executive
director of Polymetal who was ch ief executive at Ce nterra from
2004 to 2008.

May 3, 2012

Renault-Nissan sets Russian AvtoVAZ expansion

PARIS/MOSCOW (Reuters) – Renault and Japanese partner Nissan moved to expand in the growing Russian car market on Thursday with a $750-million deal that would give the French manufacturer effective control of Lada maker OAO AvtoVAZ.

The tentative agreement to double the alliance’s 25-percent stake via a joint venture with a Moscow state entity ups the ante for Renault-Nissan boss Carlos Ghosn’s four-year-old bet on the Russian market, though some analysts said the deal looked dear – valuing AvtoVAZ at nearly treble its $1.2-billion market capitalization – and was prone to legal and political vagaries.

Apr 27, 2012

Russia, China to announce progress on fund during Li visit

MOSCOW/NOVO-OGARYOVO, Russia (Reuters) – Russia and China will announce progress on a joint investment fund during a visit by the man expected to be China’s next premier, while their leaders hinted on Friday at differences behind a show of amity and common ground on global issues.

Chinese Vice Premier Li Keqiang, who is on track to succeed Premier Wen Jiabao this autumn, met Russian President-elect Vladimir Putin and outgoing President Dmitry Medvedev during a trip that will also take him to Hungary and Belgium.

Apr 27, 2012

Middle East money flows into Russian power group

MOSCOW April 27 (Reuters) – Middle East investors are
pumping $175 million into Russian power generator Enel OGK-5
in what is thought to be the largest injection by a
Gulf investor into the country so far, members of the investment
consortium said.

Italy’s Enel, which acquired a 56.4 percent stake
in OGK-5 as part of reforms to break up Russia’s Soviet-era
power monopoly, was not a party to the transaction.

Apr 27, 2012

Globaltrans buys $540 million Metalloinvest unit

MOSCOW (Reuters) – Russian freight firm Globaltrans Investment (GLTRq.L: Quote, Profile, Research, Stock Buzz) is buying the railcar unit of iron ore miner Metalloinvest for $540 million, boosting its fleet to around 60,000 units, it said on Friday, as it forecast more consolidation for the sector.

As part of the deal, Globaltrans will provide rail freight transportation and logistics services to Metalloinvest, controlled by Arsenal football club and Facebook shareholder Alisher Usmanov, Russia’s richest man, for three years.

Apr 26, 2012

JP Morgan Russia head to retire, deputy steps up

MOSCOW, April 26 (Reuters) – JP Morgan’s Russia head
Jeff Costello is to retire and deputy CEO and head of
investment banking, Yan Tavrovsky, will replace him, the bank
said on Thursday.

Tavrovsky rejoined JP Morgan in 2010 from Morgan Stanley
. He had previously worked at JP Morgan in Moscow and
London from 2000 to 2005.

Apr 25, 2012

Polyus talking to investors on placing stake-sources

MOSCOW, April 25 (Reuters) – Russia’s largest gold firm
Polyus Gold is talking to investors about placing a
stake worth hundreds of millions of dollars as part of plans for
a premium London stock market listing.

The company had been planning to announce plans for the move
this week, but Russia’s extended May holiday break and market
volatility might slow the process, several sources said.
Polyus declined comment.

Apr 25, 2012

Russia’s Polyus closer to placing stake-sources

MOSCOW, April 25 (Reuters) – Russia’s largest gold firm
Polyus Gold may be close to pulling the trigger on a
share sale to investors worth hundreds of millions of dollars as
part of plans for a premium London stock market listing.

The company could announce plans for the move this week, one
source said. But another source was more cautious, saying that
Russia’s extended May holiday break might slow the process.

Mar 30, 2012

Polyus may start up to 625 million pounds share sale in April – sources

MOSCOW (Reuters) – Russia’s largest gold firm Polyus Gold (PLGLq.L: Quote, Profile, Research) is likely to go ahead with a share sale worth between $700 million (437 million pounds) and $1 billion (625 million pounds) in late April, paving the way for a premium listing on the London Stock Exchange, two sources familiar with the matter said.

Polyus is worth about $10 billion and sits on potentially lucrative gold reserves in Russia’s far east, and oligarch stakeholder Mikhail Prokhorov has said he wants to merge the company with an international player.