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The Russian government will buy a 51% stake in Sberbank

The Russian government will buy a 51% stake in Sberbank
Photo: yandex.by
The Central Bank will sell a 51% stake in Sberbank to the Russian government. The regulator prepared the corresponding bill together with the Ministry of Finance and has already submitted it to the Cabinet of Ministers for consideration. It is stated that the transaction value is market and may amount to 2,8 trillion rubles.

According to RBC, a block of shares is planned to be acquired at the expense of the National Welfare Fund. The investment will contribute to the management objectives of the NWF, namely, ensuring the safety of invested funds and stable income from their placement. The high dividends of Sberbank shares following the results of 2019 allow us to count on this.

The sale of Sberbank to the state was first discussed ten years ago. Once again, they returned to this topic only at the end of last year. The deal will begin in April and be completed by 2021. The speed depends on the ability of the NWF to buy shares. According to experts, a change in the bank’s shareholder will not affect citizens and their deposits.
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