Headline: A new breed of industrial group Source: Euromoney Date: April 2001
“There is a big legacy issue,” says Erik Kraus, head of strategy at NIKoil, a Russian investment bank. “It will take time for foreign investors to accept these groups, even if they are given the chance.” After five years of suffering at the hands of the FIGs – many of which defaulted on billions of dollars of foreign loans – investors remain wary of big Russian business and many of the old faces are still there. From the original seven oligarchs who rose to prominence under Boris Yeltsin, three are still safe in their castles: Mikhail Khodorkovsky at the head of Yukos, Vladimir Potanin at Interros, and Mikhail Fridman at the Alfa Group. |