Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Central Bank Confirms Sale

The Central Bank is ready to launch the sale of a 7.6 percent stake in Sberbank, the country's biggest bank, but no decision has been taken on timing, a senior official said Wednesday.

"In theory it [the placement] could take place at any moment," the regulator's first deputy chairman, Alexei Ulyukayev, told reporters.

"We are in a high state of technical readiness," he added, declining to comment on price.

The sale of the stake, worth $5.5 billion at its current market valuation, could help the bank widen its investor base and achieve a fairer value. It would also trim the Central Bank's ownership of Sberbank, on behalf of the state, to a bare majority.

Sberbank, Europe's second-largest lender after HSBC, had planned to sell the 7.6 percent owned by the Central Bank last September but postponed the deal following a collapse in global equity markets.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.