Russia may postpone privatization of Sovcomflot to 2012

Russian First Deputy Prime Minister Igor Shuvalov said on Thursday that the privatization of 50 percent plus one share in the country’s largest shipping company Sovcomflot might be shifted to 2012 from the earlier announced 2011.

“I do not rule out it will be postponed to 2012,” Shuvalov said at the St. Petersburg International Economic Forum.

He said that the state-owned stake would be ready for sale in October-November, but added that everything would depend on the market environment.

Sovcomflot is one of the world’s top five shipping companies. It operates 132 ships with a total deadweight standing at 9.4 million tons.

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