Russia May Open Rosneft Privatisation to Investors, Market

Russia May Open Rosneft Privatisation to Investors, Market

Russia may apply a “combined” method to the privatisation of more than 19% in its top oil producer Rosneft by selling stakes both to strategic investors and on the stock market, Economy Minister, Alexei Ulyukayev, said about the largest privatization in Russia’s history, Reuters reported.

The Minister of Economic Development, Alexey Ulyukayev, said earlier that the government will be able to maintain the 2016 budget deficit at 3% of GDP if the stake in Rosneft is privatized this year, Tass wrote. The Italian bank Intesa Sanpaolo has been chosen as an investment consultant for the planned privatisation, Interfax reported as Reuters cited.

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