22 Mar 2011 22:02

NBS negotiates sale of 7.6% stake in Sberbank by Central Bank

MOSCOW. March 22 (Interfax) - The National Banking Council on Tuesday negotiated the sale by Central Bank of an up to 7.58% stake in Sberbank , NBS member and member of the State Duma's Financial Markets Committee Pavel Medvedev told Interfax.

"The NBS has agreed to the sale of a 7.6% stake in Sberbank. The Central Bank has been allowed to sell shares within these limits," he said.

The decision on the timeframe of the sale and the size of the stake will be made by the Central Bank on its own, Medvedev said.

"The Central Bank will elaborate on its plans some time later," he said.