Billionaire Vladimir Evtushenkov’s AFK Sistema may challenge Russian Rail over its decision to sell 25 percent of OAO Freight One to a rival, Interfax reported, citing Sistema President Mikhail Shamolin.
The state-owned OAO Russian Railways said today it selected billionaire Vladimir Lisin’s UCL Holding to buy its remaining 25 percent of OAO Freight One, Russia’s largest rail operator, with a bid of 50 billion rubles ($1.6 billion). UCL bought 75 percent of Freight One last year for 125.5 billion rubles.
Sistema is considering either a challenge filed with the rail regulator or legal action, Interfax cited Shamolin as saying. Company spokeswoman Yuliya Belous couldn’t immediately be reached by phone.