Russian exchange merger to set new market standard

Author: Gemma Varriale | Published: 27 Oct 2011

A first-of-its-kind merger of Russia’s two biggest exchanges will set a new market standard for protecting the rights of minority shareholders.

Debevoise & Plimpton’s Moscow-based partner Alan Kartashkin told IFLR the Russian Trading System (RTS)/Micex union set a strong precedent for other companies because it was structured so that minority shareholders have the opportunity to participate in the transaction on the same terms as larger shareholders.

"This was a critical requirement recognised by both sides,"...