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Russia wants to sell shares in Aeroflot

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HB MOSCOW. Moscow wants to sell shares in the largest Russian airline Aeroflot, and reduce its budget deficit. Finance Minister Alexei Kudrin announced a "privatization program in a big way" to.

But the state should continue to hold the majority stake in the company, Kudrin said, according to the radio station "Echo Moskvy" on Sunday. Russian and foreign investors have already shown great interest.

With the partial sale of eleven large companies in the coming years Russia will take at least 22.5 billion euros and push its budget deficit, currently at 6.8 to four percent. On the proposal approved by the Ministry of Economy list includes the oil producer Rosneft, Sberbank and the house money Railways RZD, the Deutsche Bahn repeated a cross-ownership had offered.

Kremlin leader Dmitry Medvedev had spoken on several occasions for privatization. He has a lot to speed up modernization of the often backward enterprises.