By John Helmer, Moscow
To modernize, privatize, incentivize, and win the votes of Russians yearning to be free, President Dmitry Medvedev has ordered the senior ministers of the federal government to vacate their seats on the boards of state companies. First to go – on his own resignation, eleven weeks ahead of deadline – is Deputy Prime Minister Igor Sechin.
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By John Helmer, Moscow
On Monday morning, we reported:
“Supposing Fridman has convinced Sechin to put the Deripaska squeeze on Dudley, the buy-out price to remove AAR from TNK-BP, allowing BP to proceed with its Rosneft deal, would add 50% to TNK-BP’s market cap – that’s an extra $25.7 billion. AAR’s half-share of the new valuation would come to $38.5 billion. That amounts to one-quarter of BP.”
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By John Helmer, Moscow
When it comes to transparency of corporate practice and accountability for the spending of state money, Alrosa, the Russian state diamond monopoly, isn’t famous.
But one thing is finally clear – Finance Minister Alexei Kudrin has at long last gotten his wish to be relieved from having to serve as chairman of the board of directors (aka Supervisory Board) of the company. By the presidential order of April 2, Kudrin has been ordered to vacate the chairmanship of Alrosa by July 1.
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By John Helmer, Moscow
The primaries for the Russian presidential campaign have already begun, and there are three contenders – Igor Sechin, Dmitry Kozak, and Dmitry Medvedev. Vladimir Putin isn’t a contender – he is the convention with all the votes; he makes the choice.
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By John Helmer, Moscow
In the game of cricket, nothing is rarer than a hat-trick. That is when the bowler for one side dismisses three batsmen for the opposing side in three successive balls. For the bowling side, it is a rare triumph, and almost never happens in international test games. For the batting side, it is one of the greatest of humiliations.
In Russia, cricket is almost unheard of, and up against the Russian oligarchic combines, the Federal Antimonopoly Service (FAS) rarely inflicts humiliation.
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By John Helmer, Moscow
It’s nearly time for the peonies to bloom in China. But not for Oleg Deripaska’s plantings, at least not this season.
According to sources at Deripaska’s electricity company, Eurosibenergo, the Chinese government has so far refused to approve the investment of state-controlled funds by China Yangtze Power Company (CYPC) in Eurosibenergo, and thereby guarantee its initial public share offering (IPO) on the Hong Kong Stock Exchange. Accordingly, the Eurosibenergo is off for the second time in four months.
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By John Helmer, Moscow
One man’s poison is another man’s meat – so long as he chews carefully and doesn’t swallow.
What’s been bad for Japan’s steel industry has accordingly been not so bad — you might say good — for the China market, and those who supply it with what it must have — iron-ore, coking coal, ferrous scrap, nickel, and manganese. These are the primary ingredients of steelmaking. Russian exports them, so does Australia.
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By John Helmer, Moscow
When we last put down the telephone to Maxim Finsky’s office at Intergeo in Moscow, he wasn’t saying much of anything about his attempt to persuade Canadian shareholders to accept his proposed merger of two junior goldminers he controls, White Tiger Gold and Century Mining.
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By John Helmer, Moscow
The Russian government has issued a new order listing the state shareholdings to be privatized this year and next. Order No. № 513-p, signed on March 24, omits Sovcomflot from the privatization list, thus barring the sale of the shipping company’s shares: (Order No. 513p).
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United Company Rusal has awarded John Helmer the highest honour it can bestow — its fear of what he writes. The award is the first ever by the Russian corporation and state aluminium monopoly to a journalist specializing in the coverage of Russian metal, mineral and mining affairs.
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