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You're reading: Russia launches $5 billion Sberbank stake sale (updated)
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The sale of a 7.6 percent stake in Sberbank has been held up
for more than a year by weak markets, but last week’s
announcement of a new round of credit easing by the U.S. Federal
Reserve lifted sentiment and opened the window to a placement.

“This was the best imaginable day of the past 15 months to
take the decision to go to the market,” Chief Executive German
Gref told Reuters in a telephone interview, after Sberbank stock
hit its highest since April on Friday.

Gref said he hoped asset managers in China, Singapore and
Hong Kong, among others, would be interested in the three-day
offering, which may be closed early if there are enough orders.

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