Sistema bonds drop as Rosneft files law suit

Rosneft BP 230x150
By Virginia Furness
03 May 2017

Sistema bonds fell three and a half cash points on Wednesday morning after Rosneft filed a Rb106bn ($1.87bn) lawsuit against the Russian holding company.

The Russian company’s share price dropped 30% in a fall one buyside analyst described as “nerve-wracking”.

The amount equates to almost half of Sistema's market capitalisation, says Gimme Credit, which notes that a worst case, but unlikely, 

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