Rosneft Privatization Advisor Proposes To Sell Stake To Strategic Investor

Reuters

MOSCOW, July 11 (Reuters) - Italian bank Intesa Sanpaolo , which is consulting on Rosneft's privatisation, is proposing to sell the stake in Rosneft to a strategic investor, head of Russia's state property management agency Dmitry Pristanskov told reporters on Monday.

Moscow included a planned reduction in its stake in Rosneft, the world's top listed oil producer by volume, to 50 percent from 69.5 percent, in its privatisation plan for 2016. The sale is expected to bring around 650 billion roubles ($10.12 billion) to the budget.

(Reporting by Darya Korsunskaya, Olga Popova and Polina Devitt; writing by Denis Pinchuk, editing by Katya Golubkova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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