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Russia tries to make up economic ground with asset sale
Manchester News.Net
Wednesday 28th July, 2010
The Russian government will sell billions of dollars worth of assets on the open market.
In an effort to fill major discrepancies in the
budget, the government has decided on a bulk privatisation sale, the largest since the 1990s.
While not saying which assets would be offloaded, Finance Minister, Alexei Kudrin, said the country was hoping to realise about $10 billion from the sales.
There has been speculation in Russian economic circles that minority stakes will be sold in firms such as Rosneft, Russia's biggest oil producer; lending company VTB; and Transneft, the Russian oil pipeline monopoly.
The government will hold a meeting on Thursday to vote on how to run the sales.
It is believed any new plan will see Russia still control the firms.  Email this story to a friend
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