Russia to Decide on Inter RAO’s Purchase of OGK-1 Shares Soon

OAO Inter RAO UES expects the Russian government to decide on its purchase of shares in the OAO OGK-1 power generator from state companies “in the near future,” Chief Executive Officer Yevgeny Dod said.

Inter RAO, which manages stakes in the utility owned by state-controlled Federal Grid Co. and OAO RusHydro (HYDR), plans to shut down OGK-1’s Moscow head office to cut costs, Dod told reporters today at a VTB Capital investor conference in Moscow.

To contact the reporters on this story: Yuriy Humber in Moscow at yhumber@bloomberg.net or .

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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