Source: Russia’s Rosneft not to participate in Bashneft sale

MOSCOW, Feb 18 (PRIME) -- Russian oil major Rosneft has no plans to participate in privatization of a stake in oil company Bashneft, a high-ranking government official told reporters on condition of anonymity on Thursday.

“There are several real contenders. Rosneft does not want it, contrary to what some people say, it is not among them. Since someone has spread rumors that (Rosneft CEO Igor) Sechin wants to buy Bashneft as well. I can tell you straightaway, this is not true,” the source said.

He said that the government has not defined terms of privatization, and the stake can range between 25% and 75% depending on premium to the market which stake bidders will offer.

The federal government holds 50.08% in Bashneft, while the Bashkortostan government has a 25% stake.

Deputy Prime Minister Arkady Dvorkovich said earlier that the government plans to define the conditions of privatization of Bashneft soon.

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