Pioneer Ponders its Options in Russia
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Monday, August 22, 2011

Pioneer Ponders its Options in Russia

Pioneer Investments, which Italian parent UniCredit pulled from the auction block this spring, is pondering which path to pursue for its business in Russia, Reuters reports.

"It is important to emphasise that Russia remains a strategic market for UniCredit, our parent company, and therefore we will ensure this business is properly serviced and supported," according to a Pioneer statement picked up by the wire service.

According to Reuters, a Russian newspaper came out with a report on Monday stating that UniCredit is looking for a buyer for its open investment funds in Russia. [See MFWire's living timeline of the Pioneer auction for more details and history.]

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