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Chinese Firms ‘Show Interest’ in Buying Russian Assets such as ALROSA
Mar 29, 2016 10:54 AM
By Rapaport News
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RAPAPORT... Chinese companies are showing interest in buying Russian state
assets such as ALROSA as the government privatizes some of the nation’s largest
publicly owned businesses, news agency TASS reported.
“Generally
the interest is there,” the Russian news service cited Deputy Prime Minister
Arkady Dvorkovich as saying at the Boao Forum for Asia in China’s Hainan
Province March 24. He said it is too early to speak about “particular
companies,” according to the report the same day.
More
than ten banks, including ones based outside Russia, have displayed interest in
handling the privatization of ALROSA, VTB Bank and oil company Bashneft,
according to an earlier TASS report.
The Russian government is currently considering the potential sale of a 10.9-percent stake in ALROSA, the miner’s management confirmed in a presentation to investors earlier this month.
Separately, the
Moscow Exchange is considering a proposal from ALROSA to develop an exchange
trade in diamonds, TASS cited the bourse’s chief executive officer Alexander
Afanasyev as saying.
“We are discussing this issue with
ALROSA,” Afanasyev said, according to the report. “It is premature to speak
about its implementation now because there is still a lot of interesting
questions – technical, technological, regulatory and particularly taxation
ones," Afanasyev was cited as saying.
"There
is a need to create the so-called ‘investment diamond.’ This is closer to the
exchange product,” he added.
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Tags:
Alrosa, ALROSA privatization, mining, Rapaport News, Russia
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