Add'l issue is preferential privatization scenario for VTB in 2013 - Rosimushchestvo
MOSCOW. Feb 27 (Interfax) - The Russian government has yet to decide on the structure and timeframes for privatizing VTB in 2013, but an additional issue is the preferred scenario, the head of Russia's Federal Property Agency (Rosimushchestvo) and Deputy Economic Development Minister Olga Dergunova said at a Wednesday briefing in Moscow.
"An additional issue is being considered as the primary and preferential variant for the company's development. But a decision hasn't been made yet, it's not fixed, a government order hasn't come out yet," she said.
Dergunova did not comment on when the additional issue will occur or whether only 10% of VTB's shares will be sold this year, or if there is a possibility of 25% being privatized.
"The sale of VTB shares will happen in 2013, but the deal's structure itself hasn't been fixed in a government order yet. The deal is being discussed," Dergunova said.
Asked by reporters whether she is aware of the Qatari sovereign wealth fund's interest in investing in VTB, Dergunova said that Rosimushchestvo has only read about it in the press and has not conducted any negotiations or discussions on the matter. Therefore, she said it would be difficult to comment on the Qatari sovereign wealth fund's desire to get a 25% discount to the current market value of VTB's shares when investing up to $3 billion in the bank. Dergunova noted that she was unaware of any precedents for such a large discount.
