October 6, 2016 / 1:27 PM / 9 months ago

Russian govt tells Rosneft board to approve Bashneft purchase

1 Min Read

MOSCOW, Oct 6 (Reuters) - The Russian government on Thursday instructed the board of state oil firm Rosneft to approve the purchase of a 50.1 percent stake in smaller oil firm Bashneft for a price not higher than 330 billion roubles ($5.3 billion).

The purchase should be approved by Oct. 15, the government instruction said. ($1 = 62.2950 roubles) (Reporting by Anton Kolodyazhnyy and Alexander Winning; Editing by Christian Lowe)

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