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12/04 17:16   Bus with children involved in Khanty-Mansiisk district's road accident travelled without compulsory escort on such routes - Russian Investigative Committee
 
12/04 16:15   Bus involved in deadly road accident in Khanty-Mansiisk autonomous district carried children's sports acrobatics team
 


 

Interfax.com  |  Interfax news  |  Sovereign funds shouldn't be main investors in...


News headlines


November 14, 2012 09:39

Sovereign funds shouldn't be main investors in RZD privatization - Shuvalov

MOSCOW. Nov 14 (Interfax) - Sovereign wealth funds should not be the main investors in the privatization of state assets, First Deputy Prime Minister Igor Shuvalov believes.

Last week, Deputy Transport Minister Alexei Tsydenov said that a 5% stake in Russian Railways (RZD) (RTS: RZHD), the privatization of which in 2013 was recently discussed at a cabinet meeting, could be bought by state-owned Vnesheconombank (VEB) or one of Russia's wealth funds.

Commenting on this proposal, Shuvalov said that "the issue needs to be decided [depending] on the stake that will be offered."

"In general, whether wealth funds can buy stakes in privatization - discussions are underway on this issue. I already expressed my position during the St. Petersburg Forum. But you can't say it like this: to have [the funds] buy the 5% [of RZD]. This is only in the case where you see the whole deal, you have a quality investor, you are achieving good results, and in this case, if it is a good privatization, the wealth funds decide to invest because this is good for future generations. Not the other way around, so that it looks like a good privatization only because the wealth funds are buying shares in the company being privatized," Shuvalov told reporters on Tuesday on the sidelines of a Bankers' Day organized by Itogi magazine.

"This process should be managed by professional financiers and specialists. A decision can be made when they see that this is an excellent investment for future generations and the value of the asset will grow in price," Shuvalov said.

At the St. Petersburg International Economic Forum in June, Shuvalov said he believes it is possible to invest a tenth of the resources of the National Wealth Fund in state companies that are being privatized. This idea was supported by a number of investment banks among those advising Russia on privatization, but received a cold reception at the Finance Ministry, which will oversee the future Russian Finance Agency that will manage the NWF and Reserve Fund.

Vp of

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
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December 04, 2016
 
20:52
Incident involving ex-Abkhaz state security service chief settled, republican opposition thanks Russian ambassador
 
20:14
Abkhaz president orders law enforcement forces to ensure public order after incident with ex-state security service head
 
18:47
President Khadjimba asks Russian ambassador to assist in settling Aslan Bzhania's border crossing issue
 
17:50
Syrian troops already in control of 52% of Aleppo's territory, liberate Karimal-el-Kataradji from militants in east of the city
 
17:39
SYRIAN TROOPS SUCCESSFULLY ATTACKING IN EASTERN ALEPPO, HAVING CAPTURED KARIMAL-EL-KATARDJI DISTRICT ON SUNDAY - RUSSIAN DEFENSE MINISTRY
 
17:34
SYRIAN TROOPS CONTROLLING OVER 52% OF EASTERN ALEPPO'S TERRITORY - RUSSIAN DEFENSE MINISTRY
 
17:30
Khanty-Mansiisk autonomous district's prosecution service confirms road accident involving bus kills 12 people
 
17:24
Number of injured people reaches 25 in Khanty-Mansiisk district's deadly road accident - police
 
17:16
Bus with children involved in Khanty-Mansiisk district's road accident travelled without compulsory escort on such routes - Russian Investigative Committee
 
16:15
Bus involved in deadly road accident in Khanty-Mansiisk autonomous district carried children's sports acrobatics team
 
16:13
 
15:58
BUS INVOLVED IN DEADLY ROAD ACCIDENT IN KHANTY-MANSIISK AUTONOMOUS DISTRICT CARRIED CHILDREN'S SPORTS ACROBATICS TEAM - REGIONAL AUTHORITIES
 
15:56
Eight people, including six children, killed in road accident in Khanty-Mansiisk autonomous district - police (Part 3)
 
15:43
Eight people, including six children, killed in road accident in Khanty-Mansiisk autonomous district (Part 2)
 
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