UPDATE: Min: Privatization of large Russian assets hardly possible till Jun

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NOVO-OGARYOVO, Moscow Region, Mar 22 (PRIME) -- The privatization of the Russian government’s large assets is barely possible until June, Economic Development Minister Alexei Ulyukayev told reporters Tuesday.

“Anyway, this is unlikely (to happen) until summer because we are screening the consultants, then necessary procedures (will follow): roadshows, reports. This is why it would be quite difficult until summer, perhaps,” Ulyukayev said.

Last week, the ministry began seeking for banks that would organize privatization of oil company Bashneft, uncut diamond giant ALROSA and VTB Bank. The organizers will be chosen in early April, Deputy Minister Nikolai Podguzov said earlier.

Ulyukayev said that oil major Rosneft can be privatized in 2016. The minister also said that he sees sale of the government’s stake in the company to a strategic investor or market floating as a preferable option to issuance of convertible bonds, earlier proposed by several government officials to ensure a good price for the company amid market undervaluation.

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