Sunday, 15 December 2019

Russia to announce the privatisation of Aeroflot on Thursday 19th December

It is being reported that officials from the Russian Finance Ministry will make a radical announcement on Thursday 19th December on a major overhaul of a number of government-owned companies.

Reuters is reporting that, according to sources, this ministry will announce the privatisation plans the national carrier Aeroflot, along with state-owned Russian Railways, Sovcomflot shipping company, RusHydro, oil pipeline firm Transneft and the United grain Company.

Whilst no official details have been released so far, the Ministry did issue a statement: “Privatization is seen as a structural measure to reduce the share of government involvement in the economy, aimed at improving the efficiency of company management,” 

The Russian Government has slowly been selling off its interests in several small companies in recent years including diamond mining firm Alrosa and VTB bank. It now seeks to rapidly ramp up its disposal of state assets between 2020 and 2022.  

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