By Andrei Skvarsky.
Russia’s Central Bank plans to sell off some of its shares in Sberbank, a move that would still leave the overseer of Russia’s monetary system in control of the country’s biggest lender.
Up to 1,712,994,999 ordinary shares, which make up 7.58% of Sberbank’s capital, would go on sale, according to a statement from the Central Bank. This may reduce the latter’s stake in the lender to 50% plus one voting share.
The plan follows a government-approved 2011 decision of the National Banking Council to cut Central Bank interest in Sberbank by 2013.