Sberbank could convert 4% of shares into ADRs in 2011, 25% in all

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Sberbank could convert 4% of shares into ADRs in 2011, 25% in all - source

MOSCOW. March 29 (Interfax) - Sberbank plans to convert around 4% of its shares in to American Depositary Receipts (ADRs) this year and approve a program for to convert the upper limit of 25% in total, a source close to the bank told Interfax.

"They plant this year to issue depositary receipts for half the 7.6% stake to be privatized," the source said.