The Russian Transport Ministry confirmed that it would sell 10% of the
shares in the Russian Railways Company no later than 2013, Transport
Minister Igor Levitin said, RIA Novosti reports.
No details of the sale have been revealed. However, he said that
legislative changes are needed because privatization of infrastructure
companies is forbidden.
The government plan involves sales of 25% + one share of the railway
company in 2013-2015.
The president of the Russian Railways Company, Vladimir Yakunin, said
in November 2010 that selling over 10% of the state monopoly would be
irrational. In early June he said that sales should start with 10-15%.
Yakunin clarified that the company will conclude the third reformation
stage. There will be no recommendations on IPO companies until then.
The third reformation stage was to end in 2010, however it was
prolonged to 2015.
