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Many companies apply for Rosneft stake — investment consultant

October 20, 2016, 11:08 UTC+3
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VERONA, October 20. /TASS/. Many companies apply for a stake in Rosneft in the framework of the company’s privatization, Chairman of bank Intesa Supervisory Board Antonio Fallico told reporters on Thursday. The bank acts as the investment consultants for privatization of Rosneft.

Answering a question about the number of bidders for purchasing a 19.5% stake in Rosneft, Fallico said: "A lot", without specifying which countries have expressed interest in participating in the privatization of the oil company.

It was reported earlier that Rosneft might buy back 19.5% of shares from Rosneftegaz that are in preparation for privatization. Spokesman and Vice President of the company Mikhail Leontiev said at the time, that Rosneft was seriously considering buying its own shares from Rosneftegaz, as it sees a great potential to increase the company’s capitalization.

Russia’s Economic Development Minister Alexey Ulyukaev said earlier that Rosneft buyback was not yet certain as the privatization timetable includes only a regular privatization procedure. He said the issue of a possible buyback will be managed by the company’s shareholders in a month.

On October 12, Russian President Vladimir Putin did not rule out that Rosneft might buy back its shares, as the company has the means to do it.

Rosneftegaz owns more than 69.5% of the company’s shares. Bank Intesa - the company’s investment consultant in privatization - has already presented a report with the evaluation of the state stake. Ulyukaev told journalists that the price of the state stake of $11 bln presented in the media was close to reality.

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