Govt expects to launch privatization process soon - Dvorkovich
LONDON. Sept 11 (Interfax) - The Russian government expects to launch the privatization process soon, Deputy Prime Minister Arkady Dvorkovich said at the Sberbank and Troika Dialog conference in London.
"We're very close to a window of opportunities to begin the privatization process," Dvorkovich said.
He said that much in the process would depend on the situation in the markets and how the situation in Europe unfolds. "But I'm hoping we'll begin [the process of privatization] very soon," he said.
The first privatization deal, which the market has been anticipating for more than a year, might be the sale of part of the Central Bank of Russia's (CBR) stake in Sberbank of Russia . Sberbank is included in the three-year privatization plan for 2011-2013. The CBR owns 60.3% of its ordinary shares and plans to sell a 7.58% stake.
In all likelihood, Sberbank will decide to conduct a road show before its secondary public offering (SPO) on Thursday, September 13, two sources with knowledge of the situation told Interfax earlier on Tuesday.
"There is a high likelihood" that the road show decision will be positive, one of the sources said. The road show will be held in London, New York and Moscow, other sources added.
