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Italy's major bank Intesa continues participating in Rosneft privatization

November 18, 2016, 18:59 UTC+3

Dismissal of Alexey Ulyukayev from the Russian economy minister’s office "does not influence operations of Intesa Russia at all"

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© AP Photo/Luca Bruno

TURIN, November 18. /TASS/. Italy’s Intesa acting as the investment adviser in privatization of Russian oil major Rosneft continues its participation in the process and remains fully interested, Chairman of the Board of Directors of Intesa Sanpaolo Gian Maria Gros-Pietro told TASS on Friday.

"Our bank is still involved in [privatization] process and remains fully interested," the banker said.

Dismissal of Alexey Ulyukayev from the Russian economy minister’s office does not influence operations of Intesa in Russia at all, Gros-Pietro said. "I do not have full and detailed information about developments in Russia. I may only say internal matters of the Russian government do not affect operations of our bank in Russia at all. I hope these developments will not entail adverse consequences for the Russian economy. We are fairly satisfied with the level of interaction with Russian leaders," he added.

Dismissal of the minister will not also influence on privatization underway in Russia, Gros-Pietro said. "Privatization is always the process which is initiated and managed by the government, which wants to transfer its assets to private investors. That is why in case of changes in the cabinet line up there can be changes in the procedures of the guidelines of the government. We hope there won’t be big changes and if they are than they won’t affect the process," he said.

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