FAS receives application from Rosneft on purchase of 100% of Bashneft, to review it for one month
MOSCOW. Oct 28 (Interfax) - The Russian Federal Antimonopoly Service (FAS) has received an application from Rosneft on the purchase of 100% of Bashneft , FAS deputy head Anatoly Golomolzin told journalists.
"Recently we received the application," Golomolzin said, noting that the petition was made for 100% of the shares of Bashneft.
He said that the FAS is expecting to review the application over the course of a month, the extension of timeframes for the review of the application is unlikely. "The deadline is one month. If necessary it can be extended to two months. But I do not think there is a necessity to conduct an additional analysis, we have all the information. Most likely, the petition will be reviewed in the one month time frame," he said.
An official representative of Rosneft said that the company approached the FAS with a decision to purchase 100% of Bashneft shares "since it would automatically give us the right to buy any kind of smaller stake."