The board of directors of the Russian state-owned oil major Rosneft has approved participation in privatization of a 50.08% government stake in oil company Bashneft, sources familiar with the matter reported.
Rosneft said in a separate statement that the board had approved a large deal, and a representative of the company said that the deal’s details would be announced later.
On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its stake in Bashneft, and oil major Rosneft was granted access to the deal. The government was discussing allowing Rosneft to buy the stake for about 325 billion rubles without an auction. (Prime/Business World Magazine)
