Finance Minister Aleksei Kudrin announced today that Russia may privatize a portion of its share in VTB, the country's largest bank. Last year, the state increased its ownership stake in VTB from 77% to 85% in exchange for an injection of cash intended to stabilize the bank during the financial crisis. Today, Russia's government is facing a significant budget deficit and is looking at selling off part of its vast portfolio of assets to decrease the shortfall.
http://www.themoscowtimes.com/news/article/state-may-cut-stake-in-vtb-to-50/414145.html (Moscow Times, 30 August, 2010)
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