Official comments on RAO UES investment policy

The investment policy of RAO UES managers is directed to transferring property rights for energy generating facilities to the "third hands", Alexander Branis, member of the board of directors of RAO UES, told RosBusinessConsulting. According to him, the managers' intention to attract large western corporations is bad for the company's shareholders, because western companies will participate in managing Russian energy facilities on terms of "the right of the first purchase", Branis stressed. Moreover, the coming of new investors will lead to an additional issue of shares.

Branis believes there is no necessity in attracting so large investments because a demand for electricity is dropping in Russia.

Moreover, he stressed, it is impossible to calculated revenues from attracting investments due to unclear outlooks for the sector's restructuring. Another unfavorable condition is underestimation of RAO UES shares.

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