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10 months ago
Russian government tells Rosneft board to approve Bashneft purchase
October 6, 2016 / 1:32 PM / 10 months ago

Russian government tells Rosneft board to approve Bashneft purchase

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

The purchase should be approved by Oct. 15, the government instruction said.

Reporting by Anton Kolodyazhnyy and Alexander Winning; Editing by Christian Lowe

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