Thursday, January 11, 2007

The Russians are coming

The $2.3bn bid by Evraz, the Russian steel group, to takeover Oregon Steel was on Tuesday given a blessing by the Bush administration, which approved the deal after a 30-day review of the transaction's national security implications.

The decision marks a victory for Roman Abramovich, the Russian tycoon who is believed to be close to Russian President Vladimir Putin and is one of Evraz's controlling shareholders.

Link to full story on MSN Money


Mr Abromavich completed the purchase of Evraz last August as reported here.

He is best known in the UK as the Owner of Chelsea Football Club.



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