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Svyazinvest will be privatized next year
Leading Russian telecommunications provider Svyazinvest will be privatized next year, the economic development and trade minister said Friday. "Next year, we will sell about 1,500 enterprises scheduled for privatization, including such high-profile assets as Svyazinvest," German Gref said at a meeting with students and faculty of the Higher School of Economics. Gref said the privatization process in Russia was not simple. Annual privatization plans include several thousand enterprises but only 800-900 at best are being sold every year. He added that officials have been reluctant to privatize state-run enterprises under their control. He also said the government was currently selling minority stakes that were of little interest for investors and that all prize assets had been sold at loans-for-shares auctions in the early 1990s.
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