MOSCOW, July 11. /TASS/. Privatization of shares of Russian state-owned oil company Rosneft won’t imply their sale on the stock exchange, First Deputy Prime Minister Igor Shuvalov.

"We initially thought that Rosneft could be offered [to investors] through the stock exchange, and then we abandoned these plans. We think that you can sell it more successfully by negotiating directly with potential investors," he said in an interview with the Rossiya 24 television channel.

"I hope we will manage to sell Bashneft a bit earlier than Rosneft," Shuvalov added

As for privatization of Sovcomflot company a deal via stock exchange is possible, he said.

In January, Vladimir Putin announced the government’s plans to sell stakes in Rosneft, Bashneft, VTB, Alrosa and Sovcomflot companies in 2016.

Earlier Bloomberg reported that Russia plans to sell a 19.5% stake in Rosneft to investors in China and India for $11 bln.

China National Petroleum Corporation (CNPC) said it was interested to participate in the privatization of Rosneft.

Economic Development Minister Alexei Ulyukayev said that besides China and India investors from other countries also expressed interest in the deal.