Support The Moscow Times!

Transneft Investors Seek Sale

Transneft shareholders wrote to Prime Minister Vladimir Putin asking him to sell 25 percent of the oil pipeline monopoly’s common stock, according to a letter e-mailed Thursday by investor Prosperity Capital.

Prosperity and East Capital, Russia’s two largest portfolio fund managers, and Vostok Nafta, a commodity investment manager, said the government may raise 150 billion rubles ($4.9 billion) selling the stake, according to the letter dated Aug. 6.

The three hold 21 percent of Transneft’s preferred shares. The state owns all the common stock, with voting rights.

(Bloomberg)


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more