Ruminations on Russia

This piece from Vedomosti, the WSJ, FT and Independent Media JV, on Komstar's failure to disclose all known risks (Russian only.)

In essence Comstar,through MGTS, controls more than 25% of the fixed-line business in Moscow. Actually pretty close to 100% of the Moscow retail market, which is not unlike having your mother-in-law visiting. So Gossvyaznadzor, the regulator, has said that its prices should be regulated.

Which somewhat blow's a hole in the investment bankers theory that Comstar is well placed to benefit from de-regulation.