VTB shares may rise in price by 25 percent if the US and EU will remove sanctions against Russia. As stated by the President of the Bank Andrey Kostin in an interview with Bloomberg, “partners in Europe” to allow for the easing of restrictions in July 2016.
The head of VTB stressed that he intends to give priority to Russian investors in the privatization of part of state block of shares of the Bank. In this case, when exactly will privatization, Kostin difficult to answer.
On 1 February President of Russia Vladimir Putin asked not to sell state blocks of shares for nothing. He also stressed that the implementation of the state property must be economically justified and feasible, it is necessary to take into account the market conditions and market trends. According to the President, controlling stakes in strategic state-owned companies should remain in state hands.
In January, Putin announced the decision to sell packages of multiple strategic companies, including VTB, Sovcomflot and Rosneft. Privatisation revenues should amount to $ 800 billion. Proceeds from the sale of the package (10.9 per cent of the shares) will be directed either to the budget or for the recapitalization of the Bank.
At the moment the state through Rosimushchestvo owns 60.9 percent of VTB. Thus, after the privatization of the state-owned stake will be reduced to the minimum required for control.
