Support The Moscow Times!

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

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.