State to sell its entire stake in Alrosa - Shuvalov
MOSCOW. June 7 (Interfax) - The state intends to sell off its entire stake in Alrosa , Russia's diamond monopoly, coordinating the sale with regional authorities, First Deputy Prime Minister Igor Shuvalov said.
"We mean the whole stake. We will be coordinating the sale the region and have in mind that the money made on privatization will in full or other measure we will leave for the development of infrastructure in Yakutia," Shuvalov told the press on Thursday.
This is a sensitive issue for the government of Yakutia, he said. "They don't want to sell," but there are so many infrastructure problems in the republic and many new deposits that could be developed, that the money from the sale of Alrosa could significantly replenish the Yakutian treasury, he said.
"And the revenues from these enterprises and deposits could be completely different. Now we see neither dividends nor anything else," Shuvalov said.