BLOOMBERG.COM
Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years. Russia has been seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and is now indicating for the first time it would prefer a joint deal with the two nations driving growth in global energy demand, two people familiar with the matter said. Officials in Moscow expect to raise at least 700 billion rubles ($11 billion) from the sale, which would set a privatization record for the country. There’s “no single preferred option” for the deal, Kremlin spokesman Dmitry Peskov told reporters on Monday.
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Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years. Russia has been seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and is now indicating for the first time it would prefer a joint deal with the two nations driving growth in global energy demand, two people familiar with the matter said. Officials in Moscow expect to raise at least 700 billion rubles ($11 billion) from the sale, which would set a privatization record for the country. There’s “no single preferred option” for the deal, Kremlin spokesman Dmitry Peskov told reporters on Monday.
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