Russian govt plans to privatize second 10-pct stake in VTB 2012 -

LONDON, July 9 (Itar-Tass) -- The Russian government plans to
privatize the second ten-percent stake in the bank VTB in 2012, Deputy
Prime Minister, Finance Minister Alexei Kudrin said at a news conference
at the end of his working visit to London.
Kudrin said this year the government had no plans to privatize the
second ten-percent stake in the VTB.
"We are preparing its privatization in the first half of next year,
but it will depend on market conditions," he said. "We will always look
for very favorable terms. And preparation takes time. It's going to happen
without undue haste."
In the course of his visit to London Alexei Kudrin met with his
British counterpart, George Osborne, co-chairman of the Russian-British
intergovernmental committee on trade and investment, UK Secretary of State
for Business Vince Cable, as well as Lord Mayor of the City of London
Michael Baer and representatives of British businesses. Kudrin said that
at the meetings the participation of British companies in privatization in
Russia was actively discussed. However, he also pointed to the "reverse
process."
"Russian companies also want to invest in the UK," he stressed.
"We agreed we need understanding and a two-way street," Kudrin said.
"Of course, from Britain there are probably more investments. But the
British economy is also in need of investment - its financial and other
sectors. The rate of growth of the British economy today also requires
some support, an impetus. And, of course, it is up to businesses to
choose."
As Kudrin said, "the British side is open to cooperation and
investment in the UK. That is why today our cooperation is achieving a new
level - a two-way street. This is a new level of our relations," Kudrin
said.