The MAYOR: possible sale of ADR “Gazprom” will not solve global issues of VEB

The MAYOR: possible sale of ADR “Gazprom” will not solve global issues of VEB


The new management of the Bank as the number of activities to improve the financial sustainability of the Corporation offers to sell the ADR on the action “Gazprom”, it was previously reported by the media.

MOSCOW, 30 Mar. May sell VEB ADR “Gazprom” — is not a meaningless operation, but it will not solve the global financial problems of the state Corporation, told journalists the Minister of economic development of Russia Alexey Ulyukayev.

Earlier Wednesday, the newspaper “Vedomosti” wrote that the new management of the Bank in number of activities to improve the financial sustainability of the Corporation offers to sell the ADR on the action “Gazprom”. VEB owns a 2.7% stake in Gazprom.

“It’s not a mindless operation, but it does not solve global problems, issues of principle… I treat it neutrally,” commented the speaker.

He added that the problems of the VEB somehow have to decide the budget.

On Tuesday, Prime Minister Dmitry Medvedev said that the Russian government has decided to recapitalize VEB 150 billion rubles in 2016. The new management of the Corporation should conduct a thorough audit of projects, to restructure bad debts and throw off the ballast of non-core assets, Medvedev said.