Kudrin thinks that it'd be rational for VEB to divest stake in Moscow Exchange
MOSCOW. April 27 (Interfax) - Former Finance Minister and member of the supervisory board of the Moscow Exchange Alexei Kudrin told journalists on Wednesday that for Vnesheconombank (VEB) it would be expedient to leave the shareholder capital of the Moscow Exchange.
"Probably it would be better VEB to consolidate some assets, to go to more liquid assets, maybe simply sell in order to cover other issues. For VEB this is rational," Kudrin said.
VEB currently holds an 8.4% stake in the Moscow Exchange.
Kudrin declined to comment on the way in which VEB could leave the exchange's capital, by sale on the market or to a strategic investor, noting only both options are possible.
"VEB is thinking of divesting its stake in the Moscow Exchange, but no concrete decisions have yet been taken. We also want to say that VEB estimates its investments in the capital of the stock exchange to be very profitable," VEB's press office told Interfax.
In addition the former finance minister said that there is no urgency in the issue of the Central Bank leaving the capital of the Moscow Exchange, for now the difficult international situation remains in place.
"Now it is rather early to raise this issue," Kudrin said.
At the start of 2016 the biggest shareholders in the Moscow Exchange included the Central Bank of Russia (11.7%), Sberbank (10%), VEB (8.4%), the European Bank for Reconstruction and Development (6.1%), Russian Direct Investment Fund (5.3%) and MICEX Finance (1.9%). The free float is 56.7%.
