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08/24 21:41   Bank in Moscow seized by bankrupt businessman urging state to acknowledge bankruptcy problem
 




 

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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)

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August 24, 2016
 
22:53
 
22:26
Defense team appeals arrest of people accused of plotting to blow up gas pipeline in Georgia
 
22:25
Interior Ministry confirms that man who seized bank in Moscow surrenders
 
22:15
Man who seized bank branch in Moscow surrenders, gives up fake bomb - source
 
22:11
All hostages freed from seized bank branch in central Moscow - city police
 
22:05
MAN WHO SEIZED BANK BRANCH IN CENTRAL MOSCOW SURRENDERS - SOURCE
 
22:03
Chief, members of organized criminal group connected with Kalashov detained - Russia's Interior Ministry
 
21:59
Court leaves Armenian opposition activist charged with organizing mass disturbances in Yerevan in custody
 
21:48
Third hostage freed from bank outlet seized in central Moscow (Part 2)
 
21:41
Bank in Moscow seized by bankrupt businessman urging state to acknowledge bankruptcy problem
 
21:38
Third hostage freed from bank outlet seized in central Moscow
 
21:34
THIRD HOSTAGE FREED FROM BANK SEIZED IN CENTRAL MOSCOW - INTERIOR MINISTRY
 
21:25
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