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Government Approved Schedule and Order for the Bank Of Russia To Withdraw from Moscow Exchange Capital

06.11.2012 19:19 / Interfax

The Government of the Russian Federation coordinated the order and schedule of the Bank of Russia to withdraw from the Moscow Exchange capital, Sergey Shvetsov, Deputy Chairman of the Bank of Russia, informed journalists on Tuesday.

“The government has coordinated (order and timeline of the Bank of Russia withdrawal from the Moscow Exchange capital – INTERFAX –AFI); now we’ll give our proposals to the President. If he approves them, they will be declared,” Shvetsov said.

According to him, these proposals may be submitted to the President on Wednesday, November 7th.

Shvetsov denied to comment some specific parameters of the plan approved by the Government. In middle October, Shvetsov, talking about the terms of the CB withdrawal from the Moscow Exchange capital, informed that the Central Bank is going to withdraw from the Moscow Exchange capital within five years. “Technically (to organizing IPO – INTERFAX – AFI) they will be ready by the end of this year; actually they will probably be prepared next year, but within two more years (the Central Bank will continue to be one of the Exchange’s shareholders – INTERFAX – AFI),” Shvetsov told.

Trading infrastructureProject Group №1Sergei Shvetsov