Gov't to sell its shares in three large companies next year

The Russian government plans to carry out three large projects on the privatization of Svyazinvest, Magnitogorsk Metal Works and Slavneft in 2003, deputy property minister Alexander Braverman told journalists after today's government meeting.

According to him, it is planned to hold tenders on selling a 25 percent minus two shares stake in Svyazinvest, a 17.87 percent block of shares in Magnitogorsk Metal Works and a 5.27 percent block of shares in Slavneft. If a tender on selling a 19.68 percent stake in this oil company is carried out successfully this autumn, the government will hope to set a quite high price for its securities next year, the deputy minister stressed.

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&to=http://www.slavneft.ru/english/index.html' target=_blank>SLAVNEFT

&to=http://www.mmk.ru/english/indexe.html' target=_blank>MMW

&to=http://www.sinvest.ru/' target=_blank>SVYAZINVEST