Russia Regulator Sees Potential Evraz, Severstal Merger As Negative
13 12월 2011 - 10:06PM
Dow Jones News
A potential merger of Russia's two largest steelmakers, OAO
Severstal (CHMF.RS) and Evraz PLC (EVR.LN) is seen as negative by
the country's anti-trust watchdog, one of the regulator's top
officials told Dow Jones Newswires Tuesday.
The comment comes a day after the Financial Times quoted Evraz
Chairman Alexander Abramov as saying in an interview that the
companies' merger would be a "good idea."
A Severstal spokesman declined to comment. An Evraz spokeswoman
couldn't immediately comment.
The merger would lead to a reduction in competition in the
rolled steel markets, head of the Federal Anti-Monopoly Service
department of industry and defense Maxim Ovchinnikov said in an
emailed answer to the Dow Jones Newswires' questions.
The regulator would approve the merger only if the deal led to
the "stimulation of technological and economic progress, or
increased the competitiveness of Russian-made products on the
global market," among other conditions, Ovchinnikov said.
-By Nadia Popova, Dow Jones Newswires; +7 495 232-9198,
nadia.popova@dowjones.com