Putin asked not to superdelegate at privatization of “Rosneft”

The President of Russia Vladimir Putin considers possible quick privatization of state-owned shares of “Rosneft” even in the current low oil prices.

The possibility of selling shares in a “falling market” the head of state explained that the country “needs the money” and expressed the hope that the organizers of the privatization will be able to find an investor who would not “superdelegate”.

“Why in a falling market? First, because the money is needed. And secondly — and most importantly, we will look for a strategic partner who understands and is sure that no need to superdelegate when buying, say, 19% of Rosneft shares, and not need to pay attention to today’s quotes, and we need to look to the future,” Putin said to journalists after holding a straight line (quoted by TASS).

The state is in the holding Rosneftegaz owns 69.5% of Rosneft, of which 19.5 per cent are in the privatization plan for 2016 (even one share of Rosimushchestva).

As previously posted , the President of “Rosneft” Igor Sechin asks the authorities to restrict the rights of buyers of the privatized company’s shares, not to give BP the opportunity to collect a blocking stake in the company. About this told two Federal official and a source in “Rosneft”. “A condition of the sale of shares is likely to be a ban on the conclusion of shareholder agreement with BP. The decision is not accepted, but actively discussed”, — said the Federal official. April 11, the press service of Rosneft released a statement that Sechin is not asking the government to prohibit buyers of 19.5% of the privatized shares of “Rosneft” to enter into a shareholder agreement with BP.