Official: Russian govt plans to privatize whole stake in Bashneft

MOSCOW, Feb 29 (PRIME) -- A draft order to privatize Russian oil company Bashneft envisages the sale of an entire 50.08% government’s stake, Deputy Economic Development Minister Nikolai Podguzov told PRIME on Monday.

“That draft order which we have distributed in the government for approval implies the sale of up to 50%, which means, the entire government’s stake,” Podguzov said.

The Bashkortostan republic’s government has a 25% stake in Bashneft, the company’s quasi-treasury stake is 4.67%, and the rest is split into small stakes.

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