Moscow Seeks $447 Million in 2011 Asset Sales, Vedomosti Says

Moscow Mayor Sergei Sobyanin plans to raise 13.9 billion rubles ($447 million) in 2011 from asset sales, up from more than 1.1 billion rubles this year, the Vedomosti newspaper reported today.

The Moscow government owns stakes in 364 companies, including 100 percent of OAO Moscow Integrated Power Co. (MOEK), 26.4 percent of OAO Mosenergo, 48 percent of Bank of Moscow and 14.2 percent of Vnukovo Airport, the Moscow-based newspaper reported today.

The city’s 2011 budget deficit will widen to 146 billion rubles from 101 billion rubles in a previous draft of the budget, Vedomosti said, citing the draft.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story Willy Morris at wmorris@bloomberg.net

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