Yesterday, the European Bank for Reconstruction and Development (EBRD) said that it is ready to take part in KB privatization if strategic investors would find such participation useful. We do not consider the EBRD’s participation as necessary, and consider it unlikely. The only manner in which it could potentially help the stock is a scenario in which, for example, EBRD would buy 10% and an investor a 50% stake in KB (60% is being sold). Having to buy less than the total stake, the strategic investor could, in theory, be more aggressive in the price it would offer to the government. Still, this is not something to move the stock.