29.07.2010
Russia has announced plans to sell off minority stakes in 11 state-run firms over the coming three years.
The Russian finance minister Alexei Kudrin confirmed the plan yesterday, which would see the country sell off an estimated US$29bn-worth of state assets.
The list of the firms to be included in the sale was released by the Russian economics ministry yesterday and includes Russia’s state oil company Rosneft, the bank Sberbank and hydroelectric power operator Rushydro.
Russia is seeking ways to raise cash in the face of a rising budget deficit.
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