The Russian central bank may sell more than 7% of shares in the country's top lender Sberbank next year, Sberbank head German Gref said on Wednesday.
"Seven and a bit percent of shares are planned for sale. The method of sale will be mixed - some shares will be sold on the open market, and part will be placed with either strategic or institutional investors. The timeframe ... perhaps next year," Gref told a conference call with Sberbank staff.
He said the government would start working on the privatization mechanism at the start of next year.
Under a government privatization plan, the central bank may cut its stake of over 60% of voting shares to 25% plus one share in 2011-2013.
MOSCOW, December 1 (RIA Novosti)
