Rosneft: Russian government could sell part of state-owned stake to Chinese investors - Newswire Round-up
The Russian government could sell a part of a state-owned stake in oil producer Rosneft to Chinese investors, according to a newswire report.
ITAR-TASS reported the information on 20 May quoting the Russian Prime Minister Dmitry Medvedev, who has not ruled out such a possibility, if an “advantageous offer” is placed by the Chinese.
Medvedev, speaking to Bloomberg TV, has not ruled out the possibility that part of the government’s stake in Rosneft will be sold 2014, the article reported.
The Russian government seeks to privatise a 19.5% stake minus one share in Rosneft, the report added. The state-owned holding Rosneftegaz currently holds a 69.5% stake in the oil producer.
Vedomosti reported that yesterday (20 May), the 19.5% stake minus one share in Rosneft stood at RUB 465bn (USD 13.4bn) on the Moscow Stock Exchange. The government will retain the controlling stake in the company, the Russian daily reported. One expert cited in the report suggested that Chinese investors could get up to 5% in Rosneft, and rest will be sold to funds.
Source Newswire Round-up, Vedomosti