11:56Uralkali to finance railway construction
The Natural Resources Ministry has instructed Uralkali to pay for the construction of a railway branch around the sinkhole in Berezniki. We view the news as moderately upbeat for the company in view of the growing likelihood of a favorable outcome of the case obliging the company to reimburse the state for losses from the accident at the mine. However, final conclusions may only be drawn after the commission completes its findings.
Uralkali Common shares:
Price: $1,85 Preferred shares:
10:43FTS agrees to raise 2009 tariffs slightly for interregional companies
An increase in tariffs has been long awaited. However, rates have grown less than expected and operators have a right not to increase rates to their upper boundary. Therefore, we will not be able to carry out a final analysis of interregional telecommunication companies’ FY 2009 revenue growth until after they definitively announce their future tariffs.
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