Russia’s Inter RAO, RusHydro disagree over Bashkir unit price

MOSCOW, Jun 10 (PRIME) -- Russian state-controlled power holding Inter RAO will not buy Energy Retail Company of Bashkortostan from hydropower giant RusHydro soon because of price disagreements, CEO Boris Kovalchuk told reporters on Friday.

“The colleagues overvalue this precious asset. We have a big price gap, impossible to explain anyhow, which is why we will unlikely to come to an agreement soon,” Kovalchuk said.

According to Kovalchuk, RusHydro wants to sell Energy Retail Company of Bashkortostan for a higher price than it bought the company in 2011, or 5.7 billion rubles. He said that he is “astonished by their position” because the economic situation has changed significantly.

(63.7402 rubles – U.S. $1)

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