By Citizen M | Published: October 12, 2010
Hermitage Capital Management’s Bill Browder has responded to Arnold Schwarzenegger’s enthusiasm for Russia’s investor potential: ‘
With all due respect, Governor Schwarzenegger has no idea of the risks of investing in Russia […] He won’t be there to wipe the blood off the floors.‘ Prosperity Capital Management writes in the
Moscow Times today about one such bloody dispute, involving Kores and TGK-2, and
here’s a private equity case study on the ‘
nasty, even violent, battle for control of the St Petersburg hypermarket chain Lenta‘. A member of the US delegation accompanying Schwarzenegger noted that ‘
the political risk – or at least the perception of it – is pretty high.‘ Moscow’s government could reallocate ‘
billions of dollars a year‘ by selling its company shares, says Finance Minister Alexei Kudrin in the wake of criticism of Moscow’s business affairs and the
negative rating given to Bank of Moscow following former Moscow Mayor Yury Luzhkov’s dismissal. Luzkhov insists that Bank of Moscow
will not be affected because it ‘
is not engaged in politics‘. The decision on whether or not to
bail out regional governments to avoid defaults is to be made on a ‘
case-by-case basis‘. The Health and Social Development Ministry has posted a tender offering $1.8 million to build a social networking website – with the stipulation that it must be completed
within sixteen days. Of all Sochi’s problems, funding is definitely
not one of them. Procter & Gamble is the latest US firm to come under fire from Russia; in this case over ‘
sanitary regulations‘. Anna Chapman is the new face of
FondServisBank, hired ‘
to bring innovation to its information technologies‘.