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Russia's UES To Sell 48% In OGK-1

Russias UES To Sell 48% In OGK-1
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Τετ, 30 Ιανουαρίου 2008 - 04:20
Former electricity monopoly RAO Unified Energy System of Russia, or UES, said Wednesday it plans to sell a 48% stake in wholesale generation company OAO OGK-1 (OGKA.RS).
Former electricity monopoly RAO Unified Energy System of Russia, or UES, said Wednesday it plans to sell a 48% stake in wholesale generation company OAO OGK-1 (OGKA.RS).

UES will accept applications from bidders starting Wednesday and through Feb. 21.

UES, majority-owned by the state, will sell only 48% of its current 91.68% holding in OGK-1, as the rest of the stake belongs to the state.

Earlier this month, people familiar with the matter told Dow Jones Newswires that Electricite de France (1024251.FR) and Finnish power company Fortum OYJ (FUM1V.HE), along with two Russian companies, have filed separate applications to Russia's antitrust body to bid for a controlling stake in OGK-1.

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