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

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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.

The government also plans to sell its stakes in Novorossiysk Commercial Sea Port (NCSP), United Grain Company and telecom giant Rostelecom in the period.

But some state assets were excluded from the 2017–2019 privatization list, and the government does not plan to sell stakes in national flag carrier Aeroflot, Sheremetyevo International Airport and St. Petersburg’s Vnukovo airport, as well as stakes in railway equipment and tank maker Uralvagonzavod, United Aircraft Corporation and United Shipbuilding Corporation, Bloomberg reported.

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