Tuesday 26 March 2013

Abramovichs losses peaked at $132mn over false arrest statement...

European tycoon Roman Abramovich may possibly sue RBC Media team, which believed that the Chelsea soccer club owner was arrested by the FBI in the usa. The report sparked a drop in share prices for companies co-owned by Abramovich. The rumors a' which were later denied by the FBI's press service and Abramovichas associates a' cost him as much as $132 million after shares in his companies dropped on Monday. An hour following the report was published shares of Evraz, Norilsk Nickel, Raspadskaya and Highland Gold dropped between a few months and six months. Starting from 1800 Moscow time the decline was in line with the downstream on the Russian market and wasn't associated with the misinformation. aObviously stocks of the companies co-owned by Roman Abramovich quickly reacted to the stories. Trading portions increased dramatically, and the quotations of the stocks of Evraz, Norilsk Nickel went down,a Dmitry Skvortsov of GPB Asset Management told Kommersant daily. Evraz stocks, that have slid 45% within the last year, lost yet another a few months at one point shortly after the record, before finding after the arrest was refused. According to the Ria Novosti information agency, Evraz dropped 6.6% at the maximum of the decline. This implies Abramovichas share lost $59 million. Evraz settings 80% of Raspadskaya, stated on the Moscow stock exchange, consequently with companyas capitalization of $1.5 billion Abramovichas 25% stake lost $9.8 million. Abramovichas spokesman John Mann hurried to immediately reject RBC TVas reports on Monday. "He is in the US but he's maybe not been arrested or detained," Mann said. The FBI also denied having detained Abramovich. He wasn't arrested by "we. It's just not true," an FBI speaker said in reaction to an unsourced statement by Russia's RBK financial media website that Abramovich was held in america, Reuters said. "Of course, we will maybe not leave it as it is,a Mann mentioned in a later record adding that they expected an explanation from RBC. After such possibility is discussed with the magnate, he also mantioned that appropriate action may follow. The report expressing the Roman Abramovich has been detained in america by the FBI was launched at 1700 Moscow time on RBC TV. Later RBC known its resources, saying that the magnate has been produced. RBC also said that Roman Abramovich was detained at the request of Britain's MI6, and has been questioned within the investigation of Boris Berezovskyas death. This information was confirmed to the media by the established head of Atoll safety Sergey Sokolov, who referred to his or her own contact at MI6. Experts consider the chances of Abramovich getting back his industry loses through legals means as remote. The decline didnat last long and by the conclusion of Mondayas treatment the stocks was able to recover their positions nearly entirely.

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