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Russia's Unified Energy System OGK-1 Power Privatization Stalls on Price as $1.5 Billion Project Moves Ahead

JOHANNESBURG--June 18, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Russia's state-owned electrical power monopoly Unified Energy System (OTC:USERY) (Moscow) will be finally broken up and privatized on July 1. Chief Executive Anatoly Chubais, who has strong political connections, is postponing the sale of OGK-1 OAO (RTD:OGKA) (Moscow, Russia), which generates and sells electric and heat energy, past the privatization deadline in order to obtain a premium price of about $7 billion.

Other companies featured: Fortum Oyj (HEL:FUM1V)

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Industry Segment: Power
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