11 Nov 2010 16:12

Russian Econ Ministry to submit Merrill Lynch proposal for VTB share sale by Dec 2

MOSCOW. Nov 11 (Interfax) - The Russian Economic Development Ministry is due by December 2 to present the government with detailed proposals on the sale of 10% of the shares in the VTB bank based on a valuation by Merrill Lynch, a ministry official told reporters.

The government on November 2 gave the Econ Ministry a month to submit the proposals, including on the price for the VTB shares and the pool of investors, said Alexei Uvarov, head of the ministry's Property Relations Department.