PM signs order on privatization of 19% Rosneft stake, but timetable not set
MOSCOW. Dec 1 (Interfax) - Prime Minister Dmitry Medvedev has signed the order required for the privatization of 19.5% of shares in state oil major Rosneft that are held by state holding company Rosneftegaz.
The document, signed last Thursday, approves the sale of up to 2,066,727,473 Rosneft shares at a price no lower than the price of the company's IPO in 2006, the government press service said.
Reducing Rosneftegaz's stake in Rosneft from 69.5% to 50% plus one share is part of the privatization program approved in 2013. The issue of the order makes it possible to conduct such a sale, but does not set the timetable for it.
"The specific dates for the implementation of the key decisions made are not set by this order," the press service said.
