Russian Industry Goes On The Block

Trying to outrun opposition from hard-liners, the Russian government is racing ahead with its program to privatize state-owned industry. Auctions of shares in some 200 factories in the Volgograd region of southern Russia will begin on Feb. 8. Similar auctions of hundreds of enterprises will soon be announced in nine other regions across Russia. The U. S. Agency for International Development has come up with about $13 million to cover the costs of the sales, which will be conducted with advice from the World Bank's International Finance Corp. and from Price Waterhouse.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.