09 December 2002 19:35
Moscow press review for Dec 9
MOSCOW. Dec 9 (Interfax) - The following is a digest of Moscow newspapers published on Dec 9. Interfax does not
accept liability for information in these stories.
The main Russian Aluminum production companies plan to spin off all service and auxiliary divisions and non-profile
assets next year. In this way the company plans to reduce internal costs and approach a corporate structure similar to
that of Western competitors, Izvestiya reports (page 5).
According to an informed source, the size of a credit from Yukos to Sibneft amounts to $500 million, Vedomosti
reports (page A1).
After adjustments to a government draft law on currency regulation, requirements have appeared that owners of foreign
accounts report all movement of funds to these accounts, and that exporters reserve half of the value of a deal if the
deferment of a payment is over six months, Vedomosti reports (page A1).
In line with the law on joint stock companies, Aeroflot has announced its readiness to buy shares from
shareholders' that vote against the leasing of foreign planes at a mail-in shareholders' meeting. The shares
will be bought back at 10.3 rubles per share. A source close to Chukotka Governor Roman Abramovich said that the company
Millhouse Capital is holding talks for the sale of its blocking share in the airline with a large Russian investment
company, Vedomosti reports (page A1).
U.S. oil concern ConocoPhillips may join a large project by four Russian oil companies - Lukoil, Yukos, Tyumen Oil
Company and Sibneft - to set up a new route to export oil from the port of Murmansk, Vedomosti reports (page B3).
A number of private management companies and pension funds are preparing a major PR campaign for pension reform in
Russia. They plan to spend about $2 million to win people over from the state pension system to the private system,
Kommersant reports (page 13). [RU EUROPE ASIA EEU EMRG PRESS MET ALU MRG LOA ENR FRX LAW TRD AIR STX US CRU OIL FUND] rd
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