Russian government to sell MMK shares in December
The Russian Property Fund has recently announced that Russian government will hold an auction in December to sell its stake in Magnitogorsk Iron and Steel Works (
MMK).
The starting price for the auction has been announced as $790 million.
As previously reported by SteelOrbis, both domestic and local investors expressed their interests in
MMK shares. For instance, Russian steel producer
Mechel Group, which currently has 16% share in
MMK announced that it wants to increase its shares more than 20%.