OAO Russian Railways is offering to sell a 5 percent stake to the country’s wealth and pension funds in 2014 in the first step toward cutting state ownership of the monopoly, according to two people with knowledge of the matter.
Arkady Rotenberg, the boyhood friend and former judo partner of black-belt President Vladimir Putin, already is collecting his winnings from what promises to be the most expensive Winter Olympics ever next year.
OAO Russian Railways said plans to sell a minority stake to an outside investor could complicate government plans for a capital injection aimed at funding infrastructure upgrades prior to the 2014 Winter Olympics.
Russian Prime Minister Vladimir Putin yesterday extended the term of Vladimir Yakunin as chief executive officer of OAO Russian Railways, the country’s rail monopoly, for another four years, Interfax reported today.
OAO Russian Railways is planning to spend 259 billion rubles ($8.3 billion) in the next three years on locomotives to defend a market that billionaire investors such as steel magnate Vladimir Lisin are seeking to enter.
OAO Russian Railways, the country’s rail monopoly, is ready to invest $1.5 billion in Mongolia’s train network to help the country exploit its natural resources, Chief Executive Officer Vladimir Yakunin said.
OAO Russian Railways is ready to discuss selling its 5 percent stake in OAO Novorossiysk Commercial Sea Port to OAO Rosneft, the state-controlled oil producer, Interfax said, citing Vladimir Yakunin, head of the rail monopoly.