Moscow press review for February 7, 2011
MOSCOW. Feb 7 (Interfax) - The following is a digest of Moscow newspapers published on February 7. Interfax does not accept liability for information in these stories.
VEDOMOSTI
Not only state-owned corporations but foreign funds may develop major oil and gas fields in Russia. Vedomosti found out that Sberbank can sell 35% of former Urals Energy assets to one of them, Ashmore. A source close to Sberbank said that the bank finds the valuation of about $1.6 billion acceptable. The asset was offered to almost all Russian oil majors but they found the evaluation exaggerated, representatives of several companies said. However, Sberbank found two contenders - the British investment group Ashmore and Bashneft , sources close to Sberbank and Taas-Yuryakh said. The deal may be announced in February. The sources said that Ashmore is acting on behalf of an investor pool. ("Sberbank Finds Mate")
"Not everything is lost" and inflation in 2011 may stand at 6-7%, Central Bank Chairman Sergei Ignatyev believes. Inflation increasingly troubles the Central Bank, he said. It is quite possible that the regulator will raise rates or reserve requirements depending on the macroeconomic situation. The Central Bank will also continue expanding the floating corridor of currency basket, Ignatyev said. He did not specify the dates but only remarked that this would not happen in the next few weeks. ("There is Hope")
Rosnano CEO Anatoly Chubais may become an owner of Otkritie financial corporation. His old friend Boris Mints will sell him 2-3% in it. In addition 7-8% more owned by Mints will be used for the option program for corporation managers. Mints has not disclosed the sum of the deals but he insists that the deals will be executed on market terms and will be closed by the end of 2011: "We have the valuation of the company made for the previous sale [to VTB] and the sale of stakes for the option program and to Anatoly Chubais will be conducted in line with it." In 2009 20% in Otrkritie cost VTB $150 million. ("Chubais, Investment Banker")
The Moscow business and head company of Comstar-OTS group will merge with MTS by April 1, MTS press secretary Irina Osadchaya has announced. The transfer of their personnel to MTS began in January. The consolidation of MTS and Comstar-OTS will be completed in the provinces by the end of 2012. By that time the consolidated company will introduce common service tariffs and customer management systems. MTS evaluates the effect of the synergy of the unification with Comstar at $400 million, Osadchaya said. ("Two Months to merge")
KOMMERSANT
Koks group of the Zubitsky family has put off the IPO scheduled for mid-February in London due to the market situation. The company was dissatisfied with the price offered by investors which was close to the lowest point of the price range. Meanwhile, the market may have disliked the company structure, its growth prospects and the fact that much of the money would have gone to the shareholders, analysts believe. (P. 11 "Koks fails to reach London," also in Vedomosti "First IPO Attempt fails")
KIT Finance bank the rehabilitation of which required the record amount of 135 billion rubles intends to complete its settlements with the state by the end of the year through paying its debts exceeding 59 billion rubles by selling non-core assets However, competition is tough even among traditional leaders on the market of corporate lending where the rehabilitated KIT Finance intends to concentrate and it will be quite difficult for the new player to be successful on it, analysts say. (p. 9 "KIT Finance jettisons Stocks")
Tele2 company that is already offering 4G cellular services in Sweden has asked to be included in the pool of operators developing the pattern of introducing 4G in Russia as of July 1. Currently the pool consists of Rostelecom (RTS RTKM), MTS, Megafon and Vimpelcom and other operators fear that they will tailor the pattern for themselves. On the one hand, there are no legal restrictions on the expansion of the pool, on the other, even its four existing members have failed so far to reach agreement. (p. 9 "Tele2 asks to join Cellular Quartet")
ml
