I'd assume they meant (generally) uncritically pro City of London corporations and the London influenced strain of economic liberalism which they represent.

But I do think it's a bit of hyperbole in a way, although I'm only tangentially familiar with the publication.

I wouldn’t read that much into it.

Pravda is both the Russian word for ‘truth’ (правда) and was/is a publication advancing the interests of the USSR/Russian state establishment.

The ‘economist’ implies a similar ‘truthfulness’ (it must be right about the economy if it’s an economist!) and advances the interests of the London financial establishment.

I mean that it usually parrots the party line (in hte case of Pravda, literally). Criticizing privatization is for them heresy of the highest order.