KOMSOMOLSK-ON-AMUR, October 24 (Itar-Tass) - Eyeing a loss-making sale. Russian oil transporter Transneft has blown the whistle on plans to sell its stake in the Kontinental Hockey League (KHL).
"It's not worth as much as it was when purchased, chief executive Nikolay Tokarev told reporters. "Having closely considered our financial situation, we shall decide whether to set the stake for sale again," he said, adding there were no plans to lose money on any deal.
Transneft failed in a spring tender to sell its 11.5% interest in the league. It was "a new kind of product for us", company spokesman Igor Demin said at the time, noting insufficient opportunity to prepare the offload. "The terms set for the tender had proved insufficient to sell,” Demin said then, adding that another tender was to be announced.
The company had expected to earn 100 million rubles in the sale. The Russian oil industry's Rosneft was among the main potential buyers.