Putin Says Rusnano Won't Be Privatized Soon

The government will not fully privatize Rusnano anytime soon, President Vladimir Putin said.

Rusnano chief Anatoly Chabais on Tuesday presented a draft plan to the government to fully privatize the state technology giant in seven years. By the end of 2013, he said, the company plans to sell 10 percent of its stock to Russian and foreign private investors.

But Putin on Wednesday said no full sell-off was in the cards. He was addressing concerns voiced by Communist Party leader Gennady Zyuganov that revenues from Chubais' sale plan might be embezzled.

Putin said Rusnano is a science-driven enterprise that cannot develop in market conditions in its current state. But, he said, the government might find it reasonable to sell it off sometime down the road.

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