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24 April 2008 - Russia's former electricity monopoly Unified Energy System (UES) has auctioned off large stakes in two power supply firms on Thursday for a total of 2.155bn roubles ($92.33m).
A third auction, of a 48.4 per cent stake in SaratovEnergo, failed to attract any bidders.
But a 55.4 per cent stake in SamaraEnergo went to Russian investment bank Troika Dialog for 2.035bn roubles, which was the minimum bid in the auction.
A 49 per cent stake in UlyanovskEnergo went to investment firm MSK Securities for 120m roubles, also the minimum bid.
The supply companies play the role of middlemen in the power sector, buying electricity on the wholesale market or directly from generators and selling it to end-consumers.
A total of 52 such companies are being sold along with dozens of other power firms as part of a sector-wide reform that will see UES dismantled into companies dealing separately in the generation, distribution and supply of electricity.
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