The share of government shares in VTB decreased to 45.01%

Russian President Vladimir Putin approved the reduction of the state's share in the authorized capital of VTB Bank from 50% plus one share to 45% plus one share. The corresponding decree is published on the official portal of legal information.

As noted in a joint statement by VTB and the Federal Property Management Agency, following the completion of this transaction, the Russian Federation, represented by the Federal Property Management Agency, is now the controlling shareholder with a 60.9% stake in ordinary shares of VTB Bank (PJSC). That is, the state retains control over the voting shares of VTB, as required by the Decree of the President of the Russian Federation.

Earlier, Putin instructed the government to finalize the list of companies to be privatized. The President noted that when buying state assets, private investors should have a development strategy for the acquired enterprise.

The Vedomosti newspaper reported that Rostelecom, Transneft, Aeroflot, Rosneft, and Sovcomflot would be among the first applicants for the sale of state-owned stakes.

Recall that Finance Minister Anton Siluanov proposed to start privatization with Rosneft, without excluding the sale of the state-owned stake in the largest state-owned banks - Sberbank and VTB. According to him, the government expects to earn 1 trillion rubles from the sale of state property.

Correction: The text of the news has been corrected. Previously, the reduction in the share of VTB state shares was incorrectly called “privatization” here.