FESCO opposes RZD’s monpoly in TransContainer

FESCO group of companies, the second largest shareholder of TransContainer, opposes the idea of Russian Railways of giving the monopoly’s stake in the container operator to the united logistic company of the Customs Union member-states.
“Our attitude to this idea is extremely negative. As a shareholder, we think is does not match with what was proclaimed during privatisation. It is not transparent, the scheme is not clear. We think that the cost of our investment will be capitalized not correctly,” Kirill Rubinsky, Vice President of Industrial Investors (owns a 56% shareholding in FESCO), told journalists.
As reported earlier, Russia, Belarus, and Kazakhstan agreed on establishment of a joint venture to organize railway container transportation. Its cost can exceed USD 2 Billion. RZD is supposed to give to the united logistic company 50% plus one share in TransContainer OJSC.
Source: www.rzd-partner.com