Russia attracted strong investor interest in the sale of a $5 billion stake in Sberbank on Monday, reducing its control in Europe's third-largest bank by equity value and reviving its stalled privatisation programme.
The sale of a 7.6 percent stake in Sberbank has been held up for more than a year by weak markets, but last week's announcement of a new round of credit easing by the US Federal Reserve lifted sentiment and opened the window to a placement. The sale will help clear a stock overhang that has held back the recent share performance of the former Soviet state savings bank.
Comments
Comments are closed.