Support The Moscow Times!

VEB Eyes RusHydro Stake

RusHydro boosted nine-month profit 19 percent because of unrepeated finance expenses in the previous year period, the utility said Tuesday on its website.

Net income climbed to 30.6 billion rubles ($1 billion) from 25.6 billion rubles a year earlier. RusHydro had net finance income of 366 million rubles this year, compared with costs of 3.11 billion rubles a year earlier. Revenue fell 34 percent to 197 billion rubles.

Vneshekonombank chief executive Vladimir Dmitriyev said in Davos, Switzerland, late last week that the bank may acquire a 10 percent share in RusHydro. VEB may spend 64 billion rubles to acquire treasury shares in the company.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.