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FSK Says Inter RAO Wants Stake

ST. PETERSBURG — The Federal Grid Company, or FSK, said Friday that state-controlled Inter RAO was one of the investors interested in buying into it during state asset sales.

Talks have not started on any transaction for shares in the high-voltage power transmission monopoly, FSK chief Oleg Budargin told reporters.

The government, which holds 79.11 percent in FSK, would be “ready to immediately prepare” for the sale of a 4.11 percent stake when its price reaches 50 kopeks per share, First Deputy Prime Minister Igor Shuvalov said Wednesday.

The company's shares rose 0.3 percent on Friday to 37.5 kopeks on the MICEX.

The government seeks to raise 1.8 trillion rubles ($59.3 billion) in asset sales in the next five years to help balance the budget. Prime Minister Vladimir Putin’s government approved the plan to sell stakes in about 900 companies, including lenders Sberbank and VTB Group, Shuvalov said Thursday. 

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