Glencore is allowed not to coordinate purchase of share in Gutseriev’s company
Edited by Rhod Mackenzie / 2015-05-21 09:53:09
The Federal Antimonopoly Service has concluded that Glencore shouldn’t coordinate the purchase of a share in the company Mikhail Gutseriev Russneft, the website of the department reports.
It was assumed that approval may be required in accordance with the rules of the Federal Law №57 (Law "On the Procedure for Foreign Investment in Business Entities of Strategic Importance for National Defense and State Security"). Head of the Department for Control of Foreign Investment Armen Khanyan explained that the decision was taken after Glencore declined to increase its stake in the strategic business entity.
