International Business

Russia Postpones Privatization of Lada Car Plant: The postponement of the privatization of half the giant Lada car plant was due to disputes between its management and the government over where share auctions should be held, government officials said Tuesday. A government spokesman said Lada management wanted to sell fewer shares at inter-regional tenders across Russia to keep control over the plant. The dispute illustrates problems the government faces in its year-old privatization drive, under which giant enterprises have been rushed into selloffs without being prepared for private ownership. Most of Russia’s big state enterprises are still run by Soviet-era managers who jealously guard their company’s shares and do not want to lose control.