Economics Ministry proposes selling 10 pct in RusNano

Russia’s Economic Development Ministry hopes to sell off a 10 percent share package of the RusNano hi-tech government corporation in its new privatization plan, Economic Development Minister Elvira Nabiullina said on Monday.

“Indeed, we have plans to earn about 1 trillion rubles a year from the sale of state property but retain a golden share in some companies. As for RusNano, our proposal is to sell 10 percent of the company’s shares,” Nabiullina said.

Discussions are currently taking place on the issue before the government takes a final decision, she said.

The government may retain a golden share for a transitional period and give it up afterwards, Nabiullina said.

The golden share would allow the government to sell the whole share package but keep a nominal share that can outvote all other shares in specific circumstances.

“We have not yet discussed the length of the transitional period while the list of companies will be submitted closer to August 1,” she said.

The Economic Development Ministry has proposed that the government should retain at least 50 percent plus one share in infrastructure companies, she said.

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