PAVLODAR, September 19 (RIA Novosti)
Russian President Vladimir Putin on Wednesday praised the just completed privatization sale of shares in the nation's biggest bank, Sberbank, which netted $5.208 billion for the state.
“This is one of the most profitable deals in the past ten years,” Putin said in Pavlodar at a Russian-Kazakh forum on cooperation.
Sberbank placed 7.58 percent of shares in a secondary public offering that wrapped up on Tuesday.
“For every $100 invested in Sberbank 10 years ago, its majority shareholder, the Central Bank of Russia, earned $3,700,” he said.
“That’s a very good yield,” Putin said, adding: “It indicates that our banks have great potential.”
First Deputy Prime Minister Igor Shuvalov echoed the president’s words, saying it was a “mega-deal conducted at just the right time from the standpoint of the investment climate, investor confidence in the Russian market.”
“We anticipate several major, serious deals before year-end. I hope we will bring them off, but everything depends on the market and investor sentiment,” Shuvalov said.
Add to blog
You may place this material on your blog by copying the link.
News that Moscow Mayor Sergei Sobyanin would resign in order to run for the mayoral election in September came as quite a shock. Sobyanin’s political potential is fairly dubious, not to mention his approval ratings. He has not finished many of the projects he initiated and the electoral effect from these projects is expected to come a bit later than September 2013. Sobyanin’s opponents were not entirely unprepared for this blitzkrieg.