Peskov commented on the proposal Sechin to sell Bashneft to Rosneft

“The President has not taken any decision in this regard”, the press-Secretary of Vladimir Putin Dmitry Peskov commented on RBC publication Bloomberg that the CEO of “Rosneft” asked the government to sell state-owned controlling stake of “Bashneft” (of 50.08%) for $5 billion.

That Sechin asked the government to allow “Rosneft” to buy this package with a premium to the market, said Monday, Bloomberg, citing two senior officials. For privatization, previously scheduled for SeptemberOctober, E&Y estimated of 50.08% of Bashneft in 306 billion rubles ($4.7 billion). This estimate was higher than the average market price of “Bashneft” for the last three months by 19%.

However, many officials, including Deputy Prime Minister Arkady Dvorkovich, who oversees the fuel and energy sector and Advisor to the President and Chairman of the Board of Directors of “Rosneft” Andrei Belousov spoke out against the participation of “Rosneft” in the privatization of “Bashneft”. In mid-July, Prime Minister Dmitry Medvedev decided to postpone the privatization of the company for an indefinite period and, as he told his press Secretary Natalya Timakova, Putin supported him.

According to the proposal Sechin, in the case of the sale of “Bashneft”, “Rosneft” from the subsequent sale of 19.5% Rosneft, the state can save at least $11 billion, said on Monday Bloomberg. That is, the results of the two transactions, the state will earn at least $16 billion, This would reduce projected this year the budget deficit in half.

Putin did not Express his opinion on the proposal Sechin and waits, when it will consider the government, said one of the interlocutors of the Agency. The press Secretary of the head of the government Dmitry Medvedev Natalia Timakova Monday did not answer a request to RBC. “We are not familiar with such offer”, told RBC press Secretary of the Ministry of economic development Elena laskina. As the press-Secretary of “Rosneft” Mikhail Leontyev responded to a request for comment on the publication of the Agency: “We do not comment on nonsense”.