Russia’s Tatneft says bid for Bashneft privatization in force

KAZAN, Sep 7 (PRIME) -- Russian oil company Tatneft has bid for privatization of a state stake in oil company Bashneft and has not withdrawn it, Tatneft CEO Nail Maganov told reporters Wednesday.

“Our bid has not been withdrawn yet. The bid is sent and not withdrawn,” he said.

“The company has a solid investment potential, which we invest in the development of our oil production and refining. It can be mobilized for other goals as well, with an aim to develop the company.”

The government earlier planned to sell a 50.08% stake in Bashneft valued at 297–315 billion rubles in September–October, but then decided to postpone the deal and privatize oil major Rosneft at first.

(64.8306 rubles – U.S. $1)

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