Government will return to sale of shares of state

The Government will return to the sale of shares of state-owned after privatization Bashneft Rosneft – Shuvalov

The government on Tuesday announced that the sale of "Bashneft"Which was to become one of the two major privatization deals of the year, has been postponed to a later date.

"Premier decided to postpone the privatization of "Bashneft" at a later date, and it (the decision) endorsed President"- said Monday night’s press secretary Dmitriya Medvedeva, Natalya Timakova.

On Wednesday, First Deputy Prime Minister Igor Shuvalov explained why the decision was made.

The Government will return to the sale of shares "Bashneft" after the privatization of state-owned "Rosneft (MCX: ROSN)", Shuvalov told reporters

"Now come to the fore sale "Rosneft". We must focus on this. selling package "Rosneft", Back to the sale of "Bashneft"As we have instructed the president of the privatization of the company"- Shuvalov said.

On the question of a possible sale of the "Bashneft" Shuvalov said that the pre-sale preparation revealed a significant interest in the asset. "There are real contenders, and we understand at what price they are willing to buy "Bashneft (MCX: BANE)". We are studying the position of the leadership of the Republic of Bashkortostan that the asset can be sold more effectively", – he said.

Russian Prime Minister Dmitriy Medvedev decided to postpone the privatization of "Bashneft" at a later date, and in this regard, instructed to further explore the issue in more effective sales package, he added.

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