Russia to sell VTB stake in 2013 -state property chief

19.04.2013 20:35
Russia to sell VTB stake in 2013 -state property chief

YEREVAN, April 19. /ARKA/. VTB, Russia's second-biggest bank, will hold a secondary share sale this year, Olga Dergunova, the head of the state property agency, said on Friday. "VTB bank is planned for (share) placement this year," Dergunova told reporters, according to Reuters..

VTB Chief Executive Andrei Kostin said last month the state-controlled bank planned a 100 billion rouble ($3.16 billion) share sale in Moscow, part of a broader privatisation drive by Russia.

A month ago first deputy prime minister Igor Shuvalov told reporters VTB planned a secondary share sale in 2013 autumn worth tens of billion rubles  through  Moscow Stock Exchange. Shuvalov said in November 2012 that the government was  willing to reduce its  stake in VTB to 50 percent from  75.5 per cent. -0-


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