May 31st, 2012

Yea or nay on privatization?

This week, Vladimir Putin called on the government to come up with a plan to sell minority stakes in Rosneft and Gazprom but then allowed Rosneftegaz, a holding company chaired by Igor Sechin with a 75 percent stake is Rosneft, “to buy up shares of other state-owned energy companies that had been earmarked for privatization,” reports the Wall Street Journal.

So which is it?

Investors were eminently confused. “It’s not clear yet what final shape this will take,” Troika Dialog analyst Valery Nesterov told the Journal.

Read more here.

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