The
Russian government has decided to disinvest its stakes
from will sell stakes in two of its biggest state-owned
banks in February 2007. The government expects to raise
a total of about $12 billion through the stake sale in
Sberbank and VTB.
As
Russia's economic and business growth is attracting investors,
the government has been divesting its stakes in some of
its largest state enterprises. Among the prominent sales
this year was its divestment of $10.4 billion worth of
shares in energy its firm Rosneft.
The
government's stake sale from from Sberbank, Russias's
largest bank, is expected to raise $7.6 billion, while
the second the second largest bank, VTB, would try to
raise the remainder.
Moreover,
Russia's economy has been expanding steadily boosted by
the rising oil and natural gas and also and metals and
commodities, which has led to higher consumers incomes.
This has also led to growing investor interest in Russian
enterprises.
However,
after Shell having been forced to sell half its stake
in the
$22-billion Sakhlin 11 oil and gas project to the Russian
government, investors have been expressing concern over
protection to their investments.(See: )
also see : Shell
yields on divesting Sakhalin gas stake to Gazprom
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