Report: Russia prepares large-scale 2017–2019 privatization plan

MOSCOW, Oct 28 (PRIME) -- The Russian government has prepared a large-scale plan for privatization of shares in several state-owned and state-controlled companies in 2017–2019, Bloomberg reported on Friday with a reference to the privatization plan.

The government plans to cut its stake in the country’s second largest bank VTB Bank and shipping company Sovcomflot to 25% plus one share in each company in the period, and also to cut its stake in oil pipeline monopoly Transneft to 75% plus one share, in oil company Zarubezhneft to 90% and in State Transport Leasing Company to 75% plus one share, Bloomberg reported.

Besides that, Russia may cut its stake in hydropower giant RusHydro to 50% plus one share from 66.8%, and also may sell 8% in uncut diamond mining giant ALROSA and 25% in Russian Railways.

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