Bloomberg News

MRSK Holding Slumps Most in Eight Months on Takeover Report

May 11, 2012

OAO MRSK Holding, the Russian state- run power distributor added to the MSCI Index last year, fell the most in almost eight months following an Interfax report it may be transferred under the management of Federal Grid Co.

MRSK dropped 9.7 percent to 2.183 rubles by the close in Moscow, the biggest decliner on the Micex today and the biggest drop since Sep. 22.

“MRSK Holding could be transferred under the management of Federal Grid Company,” UralSib analysts led by Matvey Taits, said in an e-mailed note today, citing the report by Interfax. “Privatization could be delayed until the end of the restructuring process.”

Nikolay Shvets, chief executive officer of MRSK, will step down, Interfax reported.

Energy Ministry spokesman Dmitry Klokov did not immediately return calls seeking comment, while MRSK’s press service didn’t respond to an e-mailed request.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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