Rubles Across the Sea

Russian companies are on a global buying spree

A "surprise bid." That's the way much of the world press described the decision by Russian national airline Aeroflot to join in the pursuit of Italian carrier Alitalia. Europeans were also surprised last September when Moscow-based Vneshtorgbank spent $1 billion for a 5% stake in European aerospace concern EADS. The same goes for the $2.3 billion cash buyout last November of Oregon Steel Mills Inc. by Russian steelmaker Evraz—the country's largest overseas deal yet.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.