Russian Military Property Auction Delayed

April 2008 | Privatisation News Alert

The April 8 auction of the first of 20 Russian military properties up for sale this year has been delayed. The Defence Ministry is hoping to raise billions of dollars to fund the housing of military officers and their families. It cited a shortage of bidders as cause for the delay and has not announced a new date for the auction. The Federal Property Fund, which was in charge of the auction and official owner of the properties, will be replaced by the Defence Ministry.

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