Russia Said to Plan Sales of VTB, Transneft Shares by 2020
- Property agency said to propose Russian Rail, Sovcomflot IPOs
- More privatization deals with less revenue seen in 2017-2019
A logo sits on display outside the office tower of VTB Bank, center, between city skyscrapers in the Moscow International Business Center.
Photographer: Andrey Rudakov/BloombergRussia is looking to sell dozens of stakes in state companies ranging from its oil-pipeline monopoly to its second-largest lender over the next three years as the government struggles to cover its budget gap, according to a draft privatization program.
After years of delays, the government is reviving plans to offer shares in Transneft PJSC and VTB Bank PJSC, according to the plan prepared by the Federal Property Agency and viewed by Bloomberg. It’s stepping up the number offerings, while disappointing hopes for a broader retreat from its dominant role in business as it retains control of most major companies.