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Mordashov Is Questioned on Power Machines, Kommersant Reports

Russia’s Federal Market Service questioned billionaire Alexey Mordashov on why he failed to make a mandatory offer to minority shareholders of OAO Power Machines after obtaining more than 95 percent of the company’s stock, Kommersant reported today.

Mordashov’s Highstat Ltd. was ordered to comply with the law, the newspaper said, citing Dmitry Pankin, who heads the regulator.