Russia Said to Consider Delaying $5 Billion Sberbank Deal
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Russia’s government may postpone the sale of a stake in OAO Sberbank, the nation’s biggest lender, until after President-Elect Vladimir Putin’s inauguration on May 7, said people with knowledge of the plans.
A road show of the stock offering, initially scheduled to start as early as today, is being pushed back as the Russian bank’s shares drop below a level at which the government is willing to sell, said one of the people, who declined to be identified as the information is private. A share sale, which could raise more than $5 billion, may still happen in the first half, depending on market conditions, the people said. No final decision has been made, they said.