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Prokhorov Urges Foreigners to Invest

08.06.2009
Mikhail Prokhorov urged foreign investors Friday to seize opportunities in Russia, saying previously inaccessible assets have been put up for sale.

"This crisis presents a unique opportunity for all investors willing to take on Russia risk, to have access and a possibility where there has been no access before," Prokhorov said.

Investors may take stakes in Russian companies seeking to restructure borrowings in debt-for-equity deals or at a later stage, when the government begins selling stakes in companies it obtained during bailouts, he said.

Companies have taken loans from state-run Vneshekonombank to repay foreign borrowings, pledging some of their holdings as collateral.

"I'm sure that the state bank will sell collaterals," Prokhorov said. "It's inevitable, because for them it's practically impossible to organize proper management."

Source: The Moscow Times

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More Resources

Commentary and opinions: a selection of excerpts from speeches and presentations by Mikhail Prokhorov