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 .
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.
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”.
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
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.
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.
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.