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Thursday, July 29, 2010

Russia Moves to Sell Shares in State Companies By ANDREW E. KRAMER

Privatizations of some type had been expected since the onset of the financial crisis, but the scale of the plan suggested that the crisis in public finance elsewhere in Europe was catching up with Russia, too. Until recently, the Russian government under the former president and now prime minister, Vladimir V. Putin, had been bulking up its share in the economy through nationalizations.
The program approved Wednesday involves 11 companies, including the national oil company, the national railroad, a fleet of merchant marine vessels, two state banks and a company managing hydroelectric dams, said Aleksei Uvarov, the director of the property department in the ministry of economy. http://www.nytimes.com/2010/07/29/business/global/29ruble.html
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