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Sovereign Wealth Funds Briefing - Categorized | Investment

Chinese Investment Corp. to buy 5 pct stake in Russian Sberbank

Posted on 29 June 2011

China Investment Corporation, the country’s US$300 billion sovereign wealth fund, is considering buying a 5 percent stake in OAO Sberbank, Russia’s biggest lender, media reports say. According to Interfax, the first round of negotiations has already taken place.
Sberbank, a crown asset in Russia’s three-year US$35.5 billion privatization drive, is selling off a stake of up to 7.6 percent by mid-September and is expected to roll out its privatization program soon, China’s 21st Century Business Herald reports……………………………………….Full Article: Source


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