Russian antitrust to consider Rosneft’s plans to buy Bashneft

MOSCOW, Jul 29 (PRIME) -- Plans of Russian oil major Rosneft to participate in privatization of oil company Bashneft will be considered thoroughly, if Rosneft confirms its intention, Federal Antimonopoly Service’s Deputy Head Andrei Tsarikovsky told reporters on Friday.

“Particular privatization terms are not on the agenda now, but if all applications are filed, they are likely to be preliminarily considered by the antimonopoly service. And of course, if we see that such an acquisition leads to excessive consolidation, we will give corresponding recommendations for this deal,” he said.

“If it comes to a particular deal, of course it must be considered very thoroughly by the antimonopoly watchdog.”

On Thursday, Deputy Prime Minister Arkady Dvorkovich said that the Russian government’s position is that Rosneft must not participate in privatization of Bashneft. Spokesman for the president Dmitry Peskov said that Rosneft and other state companies will not participate in privatization of Bashneft.

Earlier in July, Rosneft’s press-secretary Mikhail Leontyev said that the company received a proposal from VTB Capital, the investment consultant of the privatization, to buy 50.1% in Bashneft and will consider it.

President Vladimir Putin authorized sale of the entire government stake in Bashneft to a private investor. The Federal State Property Management Agency owns 50.08% in the company, while the government of the republic of Bashkortostan has a 25% stake.

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