OAO Gazprom’s OAO OGK-2 and OAO OGK- 6 power utilities said holders of global depositary receipts won’t be able to vote at annual meetings on a planned merger of the generating companies.
GDRs will be redeemable, if the merger is approved, on the same grounds as shareholders who abstain or vote against the move, the Russian power utilities said today in a statement. OGK-6 plans to terminate its global depositary receipt program after a merger with OGK-2, it said.
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