$1.4Bln for Vnukovo Stake

By The Moscow Times

Sep. 6, 2011

The Moscow city government hopes to raise 40 billion to 50 billion rubles ($1.4 billion to $1.7 billion) for its 75 percent stake in Vnukovo Airport, which will be transferred to the federal government in October or November, Deputy Mayor Andrei Sharonov said Tuesday.

"Talks with the federal government are close to completion," Sharonov said.

The shares will not be sold but transferred "with symmetrical provision of federal subsidies" in an amount adequate to what Moscow spent on developing the airport, he said.

The shares are being transferred to merge the Vnukovo and Sheremetyevo airports.

(Interfax)

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