Emerging Markets, Emerging Russia, Emerging Views
By Ivan Anderzhanov
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Germany’s Commerzbank has lifted its stake in Ukraine’s Bank Forum to 89.3% from about 63% after snapping up shares from investor Leonid Yurushev.
Commerzbank agreed to buy a stake of 26.25% for an undisclosed price that was indirectly held by Yurushev.
The German bank in September 2007 agreed to buy a majority stake in Bank [...]
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By Ivan Anderzhanov
Ukraine’s new President Viktor Yanukovich vowed today to make his country “a bridge between East and West” after being sworn into office in Kyiv.
Yanukovych, who narrowly defeated Ukraine’s prime minister Yulia Tymoshenko to secure the post, said Ukraine is simultaneously part of Europe and of the former Soviet Union and should serve as [...]
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By Iryna Piontkivska, Economist at Troika Dialog Ukraine
The Central Election Committee officially announced the results of the presidential elections on February 14, confirming that Viktor Yanukovych is the new president-elect.
According to the official results, Yanukovych secured about 48.95% of the votes, while current Prime Minister Yulia Tymoshenko lagged with about 45.47%.
A day before the announcement, [...]
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By Vladimir Osakovsky, Head of Strategy and Research at UniCredit Securities
Ukraine’s former prime minister, Viktor Yanukovich, continues to lead in the second round of presidential elections in Ukraine, receiving close to 48.6% of the vote, with 86.2% of the votes counted. Current Prime Minister Yulia Timoshenko managed to narrow the first round gap of [...]
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By Vladimir Osakovsky, Head of Strategy and Research for UniCredit Securities
Yesterday former prime minister Viktor Yanukovich and Prime Minister Yulia Timoshenko dominated the first round of Ukraine’s presidential election, bringing them toward a run-off vote and ousting incumbent Viktor Yushchenko.
National exit polls gave Yanukovich 31.3% of the votes and Timoshenko 27.1%, with former Central Bank [...]
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By Ivan Anderzhanov
Saxo Bank, the online trading and investment specialist, has today announced the acquisition of a 40% stake in Initto, the Danish owned software provider with 200 staff located mainly in India and Ukraine.
The company said the acquisition of Initto will enable it continue to support and speed up the development of its trading [...]
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By Yevhen Hrebeniuk, Senior Analyst at Troika Dialog Ukraine
Ukraine’s Prime Minister Yulia Tymoshenko has outlined the resolution approaches that are set to be approved by the cabinet and applied to the two remaining large banks that have yet to be recapitalized: Nadra Bank and Ukrprombank.
The government will transfer Ukrprombank’s deposits and valuable assets to [...]
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By Ivan Anderzhanov in Moscow
UBS, JP Morgan and Rothschild have secured advisory roles on the proposed $23bn merger of Russian telecoms operator Vimpelecom and Ukraine’s Kvyivstar.
A source close to the deal indicated that JP Morgan and Rothschild are advising Telenor. Swiss bank UBS is advising Vimpelcom while Altimo, the telecoms arm of Alfa Group, is [...]
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By Yevhen Hrebeniuk, Senior Equity Analyst at Troika Dialog Ukraine
Peter Tils, head of Deutsche Bank’s Central and Eastern European operations said on Friday that the bank’s Ukrainian subsidiary has received a banking license from the National Bank and will begin operating on September 30.
Tils said that despite Ukraine’s complicated economic situation, Deutsche Bank is optimistic [...]
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By Ivan Anderzhanov in Moscow
The Austrian banking group Raiffeisen International said today it has agreed with the European Bank for Reconstruction and Development on the terms of €150m in subordinated loans for its subsidaries in Ukraine, Russia and Romania.
“The aim of the subordinated credits is to strengthen the capitalization of Raiffeisen International’s network banks in [...]
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Yevhen Hrebeniuk, Senior Analyst at Troika Dialog Ukraine
The National Bank of Ukraine has announced that one of the two failed banks on the country’s top 20 list may be sold to a foreign investor.
The temporary administrator of Ukrprombank has received and is considering proposals from US, Russian and Swedish investors to purchase a stake in [...]
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By Ivan Anderzhanov in Moscow
The business climate in Central & Eastern Europe (CEE) picked up for the first time since the beginning of 2008, according to the latest Thomson Reuters & OeKB CEE Business Climate Index. The report also indicated that Russia is the top-rated country as far as business expectations are concerned.
The index polling [...]
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