Russian Railways wants slower privatizion

SOCHI, June 2 (RIA Novosti) – Russian Railways should start its privatization with a sale of 10-15 percent to a strategic investor after 2013, not the 25 percent minus one share as the government wants, the rail monopoly’s head Vladimir Yakunin said late on Wednesday.

“I think we should sell less than a blocking stake. It will be better to sell a small stake at first,” Yakunin said.

The government has approved a $33 billion privatization plan for 2011-2013, which includes the sale of shares in Russia’s top ten companies, although there are no firm dates for the sales and the sizes of stakes are often undefined. The state wants to privatize a quarter of Russian Railways by 2013-2015.

Transport Minister Igor Levitin has said it would be reasonable to offer up to 10 percent of Russian Railways shares to investors before 2015.

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