'Window' for selling 7.6% of Sberbank stock will come in summer, fall - Shuvalov
MOSCOW. April 23 (Interfax) - A window of opportunity for selling off 7.6% of the stock in Sberbank of Russia will open in the summer or fall of this year, First Deputy Prime Minister Igor Shuvalov told reporters in Moscow on Monday.
"We really want this to be in 2012. Of course, we will be facilitating it," Shuvalov said.
Sberbank chief German Gref said earlier that the Central Bank has to provide clarity as to the timeframe for the 7.6% stake's privatization. "A decision has to be made - either announce a privatization timeframe or announce a postponement. Clarity is important," Gref said.
Sberbank is part of Russia's three-year privatization plan for the period 2011-2013. The Central Bank suggests selling off 7.58% of the bank's stock. The CB owns 60.3% of Sberbank ordinary shares.
The sale was slated for last autumn, but did not take place due to less-than-favorable market conditions. Twice in recent months there were unofficial reports of a new road show (mid-April, end-April), but Gref shot them down both times.