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Moscow pounces on market to sell Sberbank

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Moscow pounces on market to sell Sberbank

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Taking advantage of the share’s highest price since April the Russian government is resuming its privatisation campaign by selling Sberbank, Europe’s third-largest bank by equity value.

7.6% percent of Sberbank is on offer for about 3.8 billion euros. Originally offered 12 months ago, the sale was abandoned as markets slumped in the wake of the eurocrisis.

Sberbank is Russia’s most actively-traded share, and by one measure the world’s most successful large company stock after Apple over the last 10 years.