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MOSCOW () -- Russia has found buyers for nearly half the firms slated for sale in its privatization campaign, raising 1.39 trillion rubles ($425 million) in the process, said the head of the state fund charged with selling companies.
Federal Property Fund chairman Vladimir Sokolov said in an interview that by Nov. 1, 109,328 firms had been privatized -- 44.6 percent of all enterprises on the fund's books. Together these firms accounted for 70 percent of Russian output. Figures from the fund, set up in 1992 to sell firms on behalf of the State Property Committee, showed that municipalities had sold off 71.2 percent of their property.
Privatization Half Over
08 December 1994
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