Correspondent, New York
Megan's Feed
Oct 6, 2013

Exclusive: Russia’s VTB agrees deal to sell Rosbank stake to SocGen – source

MOSCOW (Reuters) – Russia’s second-largest bank VTB has agreed to sell its stake of around 10 percent in Societe Generale’s Russian unit Rosbank to the French bank, while SocGen will sell VTB a number of Russian assets, a source close to the deal said on Sunday.

State-controlled VTB, which bought into Rosbank in 2010, said in May that the stake was not a strategic investment and that it was in talks to sell the asset.

Oct 6, 2013

Russia’s VTB agrees deal to sell Rosbank stake to SocGen-source

MOSCOW, Oct 6 (Reuters) – Russia’s second-largest bank VTB
has agreed to sell its stake of around 10 percent in
Societe Generale’s Russian unit Rosbank to the French
bank, while SocGen will sell VTB a number of Russian assets, a
source close to the deal said on Sunday.

State-controlled VTB, which bought into Rosbank in 2010,
said in May that the stake was not a strategic investment and
that it was in talks to sell the asset.

Oct 3, 2013

Russian entrepreneur launches 462 million pounds credit card IPO

MOSCOW (Reuters) – Russian entrepreneur Oleg Tinkov has launched a London stock market listing for his credit card business TCS to raise up to $750 million (462 million pounds), seeking to convince investors that households will continue to pile on debt despite an economic slowdown.

Unsecured lending to Russian households grew by as much as 50 percent last year as the country’s emerging middle class demands more consumer goods and banks rush into a profitable market to offset weakening demand for credit from companies.

Oct 3, 2013

Russian entrepreneur launches $750 million credit card IPO

MOSCOW (Reuters) – Russian entrepreneur Oleg Tinkov has launched a London stock market listing for his credit card business TCS to raise up to $750 million, seeking to convince investors that households will continue to pile on debt despite an economic slowdown.

Unsecured lending to Russian households grew by as much as 50 percent last year as the country’s emerging middle class demands more consumer goods and banks rush into a profitable market to offset weakening demand for credit from companies.

Sep 27, 2013

Russia’s roads, trains, planes frustrate business

MOSCOW (Reuters) – Traffic jams, potholes, snail-paced trains and flights which don’t connect are top of the list of frustrations for Russia’s businessmen as they try to move goods and people across nine time zones.

The world’s largest country is one of the top exporters of oil, gas, grains and metals. Yet Russia carries less freight by rail today than it did in the Soviet era.

Sep 25, 2013

Russia needs more risk takers

MOSCOW (Reuters) – Russia needs more risk takers willing to strike out on their own as entrepreneurs, said Boris Titov, an official whose role is to relay the concerns of business to the government.

Businesses run up against a host of problems in Russia such as red tape, high costs, corruption and the danger of wrongful imprisonment. A poll by the Levada Center in May showed that 38 percent of Russian entrepreneurs wanted to emigrate.

Sep 24, 2013

Russia’s Megafon in talks to start bank

MOSCOW (Reuters) – Megafon, Russia’s second-largest mobile phone company, may start up a bank to capitalize on growing interest among consumers in managing their finances on-the-go and to cross-sell services to existing customers.

Russian mobile operators, trying to boost profits in a maturing market, have been searching for avenues to earn more from their subscriber base.

Sep 23, 2013

Russia’s Alfa Group unit buys stake in Regal Petroleum

MOSCOW (Reuters) – A1, an investment vehicle of Russian billionaire Mikhail Fridman, told Reuters on Monday it had acquired a 24.4 percent stake in Regal Petroleum (RPT.L: Quote, Profile, Research, Stock Buzz), which produces gas and gas condensate in Ukraine.

News of the deal sent Regal’s shares sharply higher in London and they closed up 10.6 percent on the session.

Sep 13, 2013

Kerimov selling $3.7 billion Uralkali stake to Russian banker: reports

MOSCOW (Reuters) – Russian tycoon Suleiman Kerimov is selling his stake in potash producer Uralkali (URKA.MM: Quote, Profile, Research, Stock Buzz) to investor Vladimir Kogan for $3.7 billion, a prominent Russian lawyer and news agencies said on Friday.

Shares of major European and North American potash producers jumped on speculation that a sale might lead Uralkali to rejoin an export partnership with state-owned Belaruskali, averting a possible collapse in prices for the soil nutrient.

Sep 13, 2013

Kerimov selling $3.7 bln Uralkali stake to Russian banker-reports

MOSCOW, Sept 13 (Reuters) – Russian tycoon Suleiman Kerimov
is selling his stake in potash producer Uralkali to
investor Vladimir Kogan for $3.7 billion, a prominent Russian
lawyer and news agencies said on Friday.

Shares of major European and North American potash producers
jumped on speculation that a sale might lead Uralkali to rejoin
an export partnership with state-owned Belaruskali, averting a
possible collapse in prices for the soil nutrient.