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Sberbank prefers sale of state stake on market says Gref

Sberbank President Herman Gref

11:41 01/09/2010

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Sberbank head German Gref shows Russia's first “Bank office of the future”

Selling the state's stake in Russia's largest lender Sberbank on the market is preferable to a sale to a strategic investor, Sberbank President Herman Gref said on Wednesday.

"To my mind, it is better to sell the stake on the market, but if there is a potential strategic investor, who offers a premium to the market, we will discuss the proposal. But selling on the market is the most transparent deal," Gref said.

The government has many times said it is considering cutting its stake in Sberbank and VTB bank to a controlling stake of 25 percent plus one share.

In July, the Economic Development Ministry included Sberbank and VTB on the list of privatizations due in 2011-2013.

MOSCOW, September 1 (RIA Novosti)

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Sberbank prefers sale of state stake on market says Gref

11:41 01/09/2010 Selling the state's stake in Russia's largest lender Sberbank on the market is preferable to a sale to a strategic investor, Sberbank President Herman Gref said on Wednesday.>>

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