Russia may cut Rosneft holding to 51%, PM says
The Russian government may cut the state’s holding in Rosneft, the nation’s largest oil company, to 51%, Prime Minister Dmitry Medvedev said on Sunday quoted by RIA Novosti. The state can reduce its holding to this level and privatize up to 49% of the company “without any threat of forfeiting our strategic position,” Medvedev said, without to specify when the privatization of part of the company would take place. State-owned Rosneftegaz currently holds 69.5% of Rosneft, while Britain’s BP holds 19.75%. In March, Rosneftegaz sold 5.66% of Rosneft as part of the deal to buy the TNK-BP oil company.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.