Manturov: the authorities intend to reduce the state's stake in energy companies

the Russian Authorities intend to reduce the state’s stake in energy companies, said the head of Ministry of industry and trade Denis Manturov in an interview with Handelsblatt newspaper.

“In this sector also planned a steady decline in the share of the state. The state’s share in energy companies will continue to decline,” — said Manturov.

Such advances will happen to all public enterprises, “it’s only a matter of time,” the Minister explained. Large packages of shares of “Rosneft” and “Gazprom” are already on the exchange are in free float, said Manturov.

“In the banking sector, the share of the state increased because of the need to keep large institutions as, for example, the Bank “Opening” from bankruptcy,” — said the Minister. If the Central Bank had not taken action, it would lead to a banking crisis. But “the Bank “Opening” will not always owned by the state,” said Manturov.