Newspaper article The Evening Standard (London, England)

Stock Exchange Is Fertile Ground for Russian Rumours; COMMENT

Newspaper article The Evening Standard (London, England)

Stock Exchange Is Fertile Ground for Russian Rumours; COMMENT

Article excerpt

Byline: Jim Armitage City Editor

INVESTORS in Oleg Deripaska's EN+ have by now written off the millions they've lost after being enticed by its flotation here in London. Now, Phosagro, another Russian company which has enjoyed the City's red carpet treatment, gives cause for concern.

Shareholders in the $5 billion fertiliser maker -- including Fidelity, Blackrock, Vanguard and others -- awoke this morning to news that one of its big Russian shareholders' own daughter says he should be barred from having a UK visa because of his ties to Vladimir Putin.

Olga Litvinenko has written to the Home Office alleging her father, the former Phosagro chairman Vladimir Litvinenko, made his fortune through his close relationship to the Russian president. Sound familiar? Admittedly, she's estranged from him and the pair are in an ugly legal battle, but it hardly looks good for Phosagro. Particularly when you consider its deputy chairman and coowner Andrey Guriev -- owner of London's biggest house, Witanhurst -- is on the US government's "Putin List" of oligarchs close to the president. …

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