russia is taking new steps to consolidate its power industry state controlled utility into rao is raising cash in order to buy up to fifteen billion dollars of assets the company has decided to place more than thirteen trillion additional shares next year that's almost five times its current capital into raw to acquire the stakes in up to eighty companies the move is part of the government's plan to consolidate russia's fragmented power industry under one state controlled company in order to support the sector. that's all we have time for now join me in less than fifteen minutes and get more stores for website r.t. dot com slash business.

blue chips are trading in the rush after vos among the top losers for the second consecutive day into rao is on the rise on reports between the two launches a new joint venture with industrial holding russian technology and general electric which are usually used to produce gasified hong spoke to forge a quarter on one hundred million euros. as time ticks away until the end of the year of those investors still on the market appeared to be left with far fewer opportunities for investment manager alan saunders short of trading volumes fell sharply days before the long new year break. i don't want to spread in the movement i think it will be pretty much the same the whole percent. greece maybe but as i told the market is really. for there is a week i would most probably look at being sector. overall positive from being so. sensitive sector on the economy recovery and we'll spread the next year and maybe for the rest of you could still be. better than the market overall the oil rally which saw prices hit a two year high on monday is being weighed down by china's second interest rate hike sinc