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Russia Plans $29 Billion Asset Sale - Ministry Sources

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http://uk.reuters.com/article/idUKTRE66N0ZA20100724

Russia plans its biggest sell-off of state assets since the early 1990s as it seeks to raise over $29 billion (18.8 billion pounds) to plug budget gaps over the next three years, finance ministry sources told Reuters on Saturday.

The sources told Reuters the plan to sell minority stakes in 10 major companies in 2011-2013 had been discussed and approved at a preliminary meeting chaired by Prime Minister Vladimir Putin.

The sales would include 27.1 percent in state oil pipeline monopoly Transneft (TRNF_p.RTS), 24.16 percent of Russia's largest oil producer Rosneft (ROSN.MM), 24.5 percent of Russia's No.2 bank VTB (VTBR.MM), 9.3 percent of largest lender Sberbank (SBER03.MM), 25 percent minus one share of rail monopoly RZhD.

Russia wants to cut its budget deficit to 4 percent of GDP in 2011 and 2.9 percent in 2012 from around 5 percent -- or $80 billion -- this year, but a presidential election in 2012 also puts pressure on the government to keep social spending high.

"The finance ministry has made proposals on possible privatisations in 2011-2013, which will allow (us) to collect some 300 billion roubles ($9.88 billion) a year," one of the sources told Reuters.

"The biggest companies will be up for sale in such a way that the government keeps controlling stakes," he added.

"The proposals were reviewed and judged realistic," he said.

Putin's spokesman Dmitry Peskov declined to comment.

The proposals see Russia reducing its stakes in most of the companies to 50 percent plus one share, which allows the government to still exercise full control over the decision-making process.

It's the sell off recovery.

So who here fancies investing in the Russian economy knowing that the Russian govt will maintain full control and will likely shaft you if it's politically desirable.

And where is the money going to come from? Won't this drain money out of the economy? How long do the Russians think they can keep the spending going before they run out of assets to sell?

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http://uk.reuters.co...E66N0ZA20100724

It's the sell off recovery.

So who here fancies investing in the Russian economy knowing that the Russian govt will maintain full control and will likely shaft you if it's politically desirable.

And where is the money going to come from? Won't this drain money out of the economy? How long do the Russians think they can keep the spending going before they run out of assets to sell?

Years ago i posted that the tax payers will fund bail out the banks, when govenrments said there will be no bail out, at the same time i said the governments will sell of its assets at rock bottom prices as the wealthy purchase(hoovers) them up, it was all planned. We are heading towards the assets striping of the state that tax payers have funded, for the state to give it away, people need too wake up as once the state assets have gone no tax will be able to purchase those assets back unless future government repo them.

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http://uk.reuters.com/article/idUKTRE66N0ZA20100724

It's the sell off recovery.

So who here fancies investing in the Russian economy knowing that the Russian govt will maintain full control and will likely shaft you if it's politically desirable.

And where is the money going to come from? Won't this drain money out of the economy? How long do the Russians think they can keep the spending going before they run out of assets to sell?

Not only am I investing in Russia, I was out there for two months in May and June to set up my office.

I am confident that my investment is safe. The rule is very simple, don't get involved in Politics.

It's a lesson Abramovich learned well but others didn't. The corruption is as bad in London or New York, it's just a little more subtle.

The Western media are just as controlled as the press in the West.

Those who think Russians are still standing in queues and running around in decrepit Ladas are in for a shock.

Property prices would make a Londoner wince and the weapon of choice is a blacked out Range Rover Sport.

The kids drag race Audi R8s outside Moscow State Uni. Russian commercial life pays for consumption on a vast scale.

Take a wonder up Arbat or head into TSUM or GYM and your credit card company will be reduced to a state of nervous shock.

The Russian government is investing heavily in infrastructure projects to develop an IP based economy.

But, the immediate increased spending is largely to increase the salaries of notoriously underpaid public sector workers, Policemen for example.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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