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May 31, 2001

Rights & wrongs

Minority shareholder rights and emerging markets just don't mix, right?

In November 2000, ten of Russia's notorious oligarchs gathered in a private Moscow conference room to do something rather out of character. They listened to investors' complaints. The message they heard was straightforward: clean up the corruption and improve corporate governance standards, or continue being shut out by the foreign investment community.That the Russians, each controlling vast chunks of the country's corporate sector (and arguably a good deal of the government), would even

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