UPDATE: Kremlin to welcome foreign participation in Russian privatization

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MOSCOW, Feb 4 (PRIME) -- The Kremlin would welcome foreign participation in privatization of Russian assets, president’s press secretary Dmitry Peskov told reporters on Thursday.

“We are interested in foreign investors and we will be glad to see their interest in assets to be tendered,” he said.

Russian Economic Development Minister Alexei Ulyukayev said, “We see a huge interest from investors, Russian assets are significantly undervalued and that creates additional demand, no wonder that a huge interest was shown immediately after information appeared that privatization will be sped up.”

President Vladimir Putin said on Monday that the state must keep a controlling stake in state-run systemic companies.

On Wednesday, Economic Development Minister Alexei Ulyukayev said that Russian oil companies Rosneft and Bashneft and uncut diamond giant ALROSA, as well as a number of other companies, are more prepared for privatization than others and can be privatized already in 2016.

Other large companies for privatization include banking group VTB, flagship airline Aeroflot and shipping company Sovcomflot.

Finance Minister Anton Siluanov said earlier that the ministry expects to raise 1 trillion rubles from privatization in 2016–2017.

(79.2593 rubles – U.S. $1)

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