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Today in Russian Business

United Company RusAl will gain a foothold in China’s lucrative aluminum market, after it was reported it would partner with China Power Investment in building a 500,000-ton smelter in western China and a bauxite and alumina complex in Guinea. Artashes Terzyan, co-owner of Trust Banking Holding, has agreed to sell his shares in the holding company for units once controlled by jailed billionaire Mikhail Khodorkovsky. Russia’s Southern Telecommunications Company plans to issue $143.1 million of credit-linked notes to refinance debt. Rambler Media, the British-registered owner of Russia’s Rambler Internet portal, expects 2007 full-year revenue to more than double to $63-65 million from $30.6 million in 2006. Norilsk Nickel will consider a share buyback, to be funded by the sale of the energy assets that it failed to spin off into a $7 billion company last year.