March 12, 2020 / 12:50 PM / 24 days ago

Russian Finance Ministry values Sberbank stake at above 2 trln roubles - RIA

MOSCOW, March 12 (Reuters) - The Russian Finance Ministry estimates the current market value of a Sberbank stake that the central bank now holds at slightly over 2 trillion roubles ($26.6 billion), RIA reported on Thursday, citing Deputy Finance Minister Vladimir Kolychev.

Kolychev said that Russia’s 2019 extra oil and gas revenues, which will be channelled to the National Wealth Fund, will be enough to buy the 50%-plus-one-share stake in Sberbank, the country’s largest lender, from the central bank, Interfax news agency reported. ($1 = 75.2263 roubles) (Reporting by Andrey Ostroukh; Editing by Kevin Liffey)

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