THE DUTCH LOVE

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Kompania Banks, N2 (supplement to Kompania, N5), February 12, 2001, p. 2

SUMMARY:

Alpha bank’s spokesmen have not confirmed that the acquisition of “a bank in one of the EU countries”, announced recently by M. Friedman, has to do with ATB.

It remains unknown why Alpha bank is so much in a hurry to establishing itself in the Netherlands that it agreed to deal with a bank whose shares have been frozen. It cannot be ruled out that the aroused interest of Alpha and other Russian banks in the Netherlands was prompted by the fact that companies based in the Netherlands will be the ones to handle the huge project of raising the sunken Kursk submarine. It is clear that is will be reasonable to seek participation in the project only if a bank has a subsidiary in the Netherlands.

The banking group of V. Kogan, another aspirant for participation in the project of raising the Kursk, does not have a subsidiary in the Netherlands, but it has a lobby resources in the person of I. Klebanov, close links with the Rubin Constructing Bureau and the Netherlands contacts of Kogan himself.

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