The privatization roadmap for Russian Railways, has been approved, the State Property Management Agency said in a press release, Interfax reported.
"The roadmap for Russian Railways' privatization, which envisages a private and public placement of the company's shares in 2014-16 and the government's retention of qualified control, has been fully approved," the agency said.
The privatization scheme involves the sale of 5 percent through a share offering in favor of the National Wealth Fund and the Pension Fund at the first stage.
At the second stage, there will be an initial public offering, as a result of which the government will hold on to at least 75 percent in the company.
(MT)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
