Russian Railways president Vladimir Yakunin told the press Tuesday that he does not think the privatization of more than 10 percent of his company’s stock is justifiable. “RZD can be privatized after the completion of the current phase of reforms,” he said. RZD is also discussing future privatization with the government and pertinent ministries.
“I have discussed this question with the appropriate agencies, and with [Deputy Prime Minister] Igor Ivanovich [Sechin] and [Economic Development Minister] Elvira Sakhipzadovna [Nabiullina],” he said. “This is my position: It can be sold, but not more than 10 percent of the company,” Yakunin said.
The stock needs to be actually sold, not part of an asset swap with investors, he said. “Moreover, this should be a sale of shares. It’s understandable that an asset swap would be advantageous for some, but I am in favor of selling the shares,” Yakunin said.