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June 11, 2002
ABH Holdings S.A.

Russia’s Alfa Bank denies it is planning to sell a stake to Citigroup

"The story on the front page of today's Kommersant newspaper giving details of a supposed deal for the sale of part of the equity of Alfa Bank to Citigroup is not true and has no substance whatsoever," Alfa Bank said in a statement. "Alfa Bank is not in negotiation for the sale of the Bank or...

TAG: Financial Services

June 03, 2002
ABH Holdings S.A.

Alfa Bank and the U.S. Overseas Private Investment Corporation Sign Memorandum on Cooperation to promote Investment in Russia

The agreement, signed in New York on Tuesday by Alfa Bank's President Peter Aven and OPIC President Peter Watson, was the first of its kind between a Russian private institution and an American government organization in the history of new Russia. The Overseas Private Investment Corporation is...

TAG: Financial Services

May 30, 2002
VimpelCom Ltd.

Russia Vimpelcom profit up in Q1 on more mobile users.

MOSCOW, May 30 (Reuters) - Russia's No. 2 mobile operator Vimpelcom on Thursday showed first quarter profit rising sharply beating expectations, as Muscovites flooded in to buy its services. The company posted net profit of $28.05 million on $145.06 million of revenues for the first quarter...

TAG: Telecommunications

May 22, 2002
Alfa Group Consortium

Demand for Russian corporate debt remains high.

TNK said on Wednesday it was cancelling its new bonds after accountancy firm PriceWaterhouseCoopers said it had to correct TNK's audit. The firm's first deputy president Yosif Bakaleynik said the bond would be reissued in July if market conditions are favourable. Russian corporate bonds were...

TAG: Other