Nikopol Ferroalloy's Saga To Continue.

On April, 7, President Yushchenko again vetoed a bill which would have forbidden Nikopol Ferroalloy’s (NFER:U/R) privatization in 2006-2007. NFER is the main bone of contention for its two major shareholders Privat and Interpipe. Concorde Capital: We believe that the privatization issue will be solved after a parliamentary coalition forms. In our opinion, NFER’s chances of being privatizated are high as Privat group which has a strong lobby in the new parliament has been pushing for it since 2003. Even if NFER is not privatized, Privat will have a good chance to control it through the installation of loyal management.