As far as Novosti knows from informants close to the FAS, the matter concerns, among others, an Interros-Siemens joint venture.
In waiting for the information, the Siemens bid consideration term has been prolonged, says Miss Kashunina: "We can't say now just for how long the deadline will be put off. At any rate, we shall again take up the suspended issue as soon as we get necessary papers from the bidder company. The law grants us thirty days plus twenty."
The stock bid reached the FAS last month, after which the Siemens and the Russian-based Interros announced setting up a joint venture to hold roughly 71% of the Silovye Mashiny stock. The move aims at Silovye Mashiny progress, says an Interros press release.
According to the release, the Interros will hold 50% plus one share, and the Siemens 50% less one share after all formalities finish. Joint venture management will be up to the Siemens.
The negotiators are not sure to this day what the Russian government will decide on the tentative transaction, a high officer close to the contracting parties said to Novosti on an earlier occasion. At any rate, no final political decision has been made for today.
As our interviewee assumes, the decision to start a joint venture was made because the government opposed prospects of the Siemens directly purchasing the stock. Meanwhile, the Interros is the biggest holder, with a 71% block.
A routine Cabinet session recently debated Siemens-Interros partnership arrangements, government PR said to Novosti, emphatically adding that it was too early for detailed comments now.
The Siemens intends to stay in close contact with the host country's authorities as it is enhancing its Silovye Mashiny share. At present, it holds a mere 4.4% block, says Alexei Grigoryev, Siemens corporate communications manager.
Novosti interviewed several analysts on the matter to receive clashing opinions on Siemens prospects for Silovye Mashiny control stock.
"The deal has only a token chance. I don't think they'll make it as politics underlie the issue-the Silovye Mashiny is a strategic manufacturer," said Alexander Razuvayev, Megatrustoil head analyst.
The Silovye Mashiny is a market mammoth, and appears more expensive than the Siemens on key financial estimation standards, he added.
Semyon Mironov, Renaissance Capital analyst, is of a contrasting opinion. He is sure the Siemens will lay its hands on the Mashiny control block.
"I think the purchase will be authorised, after all-the chances run at 60 to 40. But it's no use fortune-telling. Things are too vague just now," he remarked.
The Siemens will hardly ever get its bid. "The government will not approve the deal, to all appearances. It is likely to keep the Silovye Mashiny in its own hands. Don't forget the Mashiny is a Russian market mammoth and among key manufacturers on the military-industrial complex," said Denis Nushtayev, Metropole analyst.
The concern Silovye Mashiny is Russia's leading manufacturer and seller of equipment for hydro, thermal, gas and nuclear power plants, railways and other transport. Affiliated to it are several industrial giants-the Leningrad Metalworks, the Electrosila, the Kaluga Turbine Works, the Turbine Blade Works, the Energomachexport, and the Polzunov research-cum-production amalgamation for power machinery R&D.
