Bloomberg News

Russia Won’t Sell State Assets at Throw-Away Price, Peskov Says

January 12, 2012

Jan. 11 (Bloomberg) -- Russia won’t sell stakes in state- run companies at low prices, said Dmitry Peskov, a spokesman for Prime Minister Vladimir Putin.

“The state won’t privatize businesses at a loss for itself, and it won’t privatize them at a throw-away price,” Peskov said by telephone today. “A lot depends on market conditions. Of course, it wouldn’t likely make sense to sell a business when the market’s at a low.”

Deputy Prime Minister Igor Sechin sent a letter to Putin last month recommending that the government not sell stakes in OAO Rosneft, OAO RusHydro, OAO Transneft and OAO Zarubezhneft this year because of low market prices, the Moscow-based Kommersant newspaper reported.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Scott Rose at rrose10@bloomberg.net


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