22 Jun 2013 15:01

Russian govt to keep controlling stake in VTB until 2016 - updated roadmap

ST. PETERSBURG. June 22 (Interfax) - The updated privatization roadmap for Russia's second-largest bank VTB indicates that the government will hold on to a controlling stake until 2016, the head of the Federal Property Agency (Rosimushchestvo) Olga Dergunova told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF) on Saturday.

The older version of the privatization roadmap said the Russian state would completely withdraw from VTB by 2016.

"Yes, we'll stay at 50% plus one share until 2016," Dergunova said.

Another roadmap determining the possible further terms of VTB's privatization will be published in 2016, she said.

The state currently owns 60.9% of VTB.