Russian Economy Minister Proposes Cutting State Stake in Bashneft to Zero

Reuters

MOSCOW, March 1 (Reuters) - Russia's economy ministry is proposing cutting the state's stake in mid-sized oil company Bashneft to zero as part of a privatisation process, Economy Minister Alexei Ulyukayev told reporters on Tuesday.

He added that the economy ministry was choosing between offering 18.9 percent and 10.9 percent stakes in diamond miner Alrosa, and that a sale via the Moscow stock exchange was possible, though other options were not excluded.

The state owns 43.9 percent of Alrosa via the state property agency and a further 33 percent via the Republic of Sakha. The state's 75 percent holding in Bashneft is split between the state property agency and the Republic of Bashkortostan.

(Reporting by Darya Korsunskaya; writing by Katya Golubkova; Editing by Christian Lowe)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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