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#6 - JRL 2007-28 - JRL Home
Potanin For State Support Of Russian Business

MOSCOW. Feb 4 (Interfax) - Co-owner of the Norilsk Nickel and head of the Interros company Vladimir Potanin has been speaking in favor of state support of Russian business, but not nationalization.

"It is very hard to implement major projects without state support. Our competitors have been and will be acting this way. They are seeking support of their presidents and the governments," he said on the NTV channel on Sunday.

"This is the way we are and will be acting. I mean large companies. We will be backed by the state; however, it is wrong to confuse this with nationalization. Business should be private, while the state should support it," Potanin said.

Potanin said that Mikhail Prokhorov is going to sell his stake in Norilsk Nickel to him and leave the position of general director of the company after he completes all projects that were launched under him and will present a candidate for the position several months prior to the resignation.

It was reported earlier that Prokhorov and Potanin are going to divide assets before the year's end.