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Gov't expects higher revenue from privatization in 2010
RBC, 24.11.2009, Moscow 12:35:45.The list of companies in which the government plans to sell its stake in 2010 will be expanded by 14 open-joint stock companies, with the majority of them being sea ports, airports and steamship companies, the RBC Daily newspaper reported today citing a source close to the government presidium. The government presidium is scheduled to re-consider the plan for privatization in 2010. As a result of the move, the estimated revenue will climb from RUB 22bn (approx. USD 764m), as forecasted by the Economic Development Ministry in August of this year, to RUB 77bn (approx. USD 2.67bn). The first companies the government is set to sell its stakes in will be joint-stock companies in which the government's share is too small to be eligible to participate in the decision-making process, as well as companies that are either experiencing significant difficulties or, conversely, have been able to attract investors who can provide sufficient funding. The privatization is most likely to be completed by 2012, and between RUB 50bn (approx. USD 1.74bn) and RUB 100bn (approx. USD 3.47bn) worth of government stakes will be sold to investors.
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