Russia’s government is expected this week to set in train the sale of a 19.5 percent stake in state-controlled Rosneft, the world’s largest quoted crude oil producer. The move comes shortly after Rosneft bought another state-controlled oil group, Bashneft, Russia’s sixth-biggest producer.
The two transactions, with Bashneft sold for $5.2 billion and the Rosneft stake expected to raise $11 billion, are billed as Russia’s biggest privatisations for a decade. Both may end up being “insider” deals.
