Russia’s VEB mulls selling stake in Moscow Exchange

MOSCOW, Apr 27 (PRIME) -- Russia’s state-owned Vnesheconombank (VEB) is considering selling its 8.4% stake in the Moscow Exchange, but no decisions have been made yet, a spokesperson for VEB told PRIME on Wednesday.

“VEB estimates its investments in the exchange’s capital as quite profitable,” he said.

Former Finance Minister Alexei Kudrin, who chairs the bourse’s supervisory board, said earlier on Wednesday that it would be reasonable for VEB to sell its stake in the exchange.

As of mid-March, the central bank held 11.768% in the Moscow Exchange, while Sberbank held 9.992%, and the European Bank for Reconstruction and Development had a 6.064% stake.

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