62% of foreign shareholders of RAO UES see no sense in energy reforms

The majority of foreign shareholders (62 percent) of RAO Unified Energy System of Russia, who own three to six percent in the energy grid, say energy reforms make no sense. This data is contained in research carried out by Alfa Bank and Merrill Lynch. This research was conducted from September through November 2002 based on polling the above mentioned shareholders of RAO UES.

In November 2002, 56 percent of respondents declared that Russian financial and industrial groups and only to some extent - RAO UES shareholders - were interested in the energy reforms. In September, 60 percent thought so. In the meantime, the number of shareholders concerned about the protection of their rights and fair evaluation of RAO UES's assets reached 100 percent in November, against 77 percent in September.

The next meeting of foreign shareholders of RAO UES may take place either in London on December 12-13, or in Moscow on December 4-6.

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