- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

State airlines, banks, telecoms cos. set for 2006 privatization

Subscribe
MOSCOW, April 25 (RIA Novosti) - The head of the Federal Property Fund announced plans Tuesday to privatize major assets by the end of this year.

Yuri Petrov said shares would be put up for sale in Sibir (25.5%) and Samara airlines (46.49%), Transcredit bank (100%), Yakut railways (50%), and telecommunications companies Central Telegraph (20%), Uralsvyazinform (4.6%), Tsentrtelecom (7.2%), and the Central Telecommunications Company of Khimki in Moscow Region (7.2%).

"Shares in Uralsvyazinform and Tsentrtelecom might be sold at special auctions," Petrov said, although he added that the issue still had to be coordinated with the Finance Ministry.

He said no decision had been taken on privatization of truckmaker KAMAZ, and that the Ministry of Economic Development and Trade was still working on the issue.

Petrov said plans had been advanced to sell shares in the Far Eastern Navigation company on bourses in New York and London, but that the government had torpedoed the initiative.

"I understand that the government's current policy seeks to focus on domestic sales," he said.

It would be more profitable for Russia to sell shares abroad, Petrov said, but then "we would not encourage the development of our own stock market."

Petrov said he also favored further state control over enterprises wherever possible, and singled out the Khimprom chemical plant.

"So far there is an opportunity to set up a chemical holding, but I would not hurry to privatize these packages," he said.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала