LUKOIL sees no “economic sense” to participate in the privatization of 19.5% of Rosneft said its Vice-President Leonid Fedun. Hardly a month later the government will be able to find real contenders on this package, experts said.
the Largest private oil company in Russia LUKOIL is not interested in buying shares of “Rosneft” in the framework of privatization, said the Vice-President and co-owner of LUKOIL Leonid Fedun.
“For us, no economic sense,” said Fedun, answering the question about the participation in the privatization of 19.5% of Rosneft, which needs to be sold before the end of the year (quoted by Reuters).
Previously, the newspaper “Vedomosti” reported with reference to a source that President Vladimir Putin proposed to the head and largest shareholder of LUKOIL Vagit Alekperov to take part in privatisation “Rosneft”. According to the interlocutor of the edition, the conversation took place on the opening Deposit to them. Filanovsky in Astrakhan on October 31. Putin “Alekperov was invited to his car,” in which they are within 20 minutes driving from the factory “Astrakhan shipyard” to the regional Duma, said the source, zatrudnilisj to tell about the reaction Alekperov on offer. Press Secretary of the President Dmitry Peskov refused to comment to journalists this information, noting that no public proposals for participation in the privatization of “Rosneft” does not.
“the Issue has been resolved, the action “Rosneft” will be redeemed “Rosneftegaz”. The government Directive came out, and it’s all clear,” said Fedun on Tuesday.
Directive to state representatives in the Board of Directors of “Rosneftegaz” (which owns 69.5% of Rosneft) was posted on Monday, November 7. It provides a minimum price for the sale of this package is approximately 711 billion. the Deal should be completed before December 5, and the end of the year, the holding is obliged to transfer the money in the budget, specified in the document.
In the Directive and the government decree on sale of 19.5% of “Rosneft” not specified prospective buyers of this package. The Minister of economic development Alexei Ulyukayev November 7 stressed that the order does not have savvycom of shares of “Rosneft”. The order only says the price and timing of the transaction, he said.
“Binding proposals [on the purchase of Rosneft shares] under the schedule must be here made, in November,” — said Uljukaev reporters on Tuesday, November 8, (quoted by “Interfax”). The Minister stressed that the applicants “are, they exist,” but he had no information, did someone already bid.
In late October, first Deputy Prime Minister Igor Shuvalov, in charge of privatization, said that savvycom of shares of “Rosneft” considered in the government only as a temporary measure in case of impossibility to receive money in the budget until the end of 2016. Then “Rosneft” will sell these shares to outside investors, he added. But one of the conditions for the privatization of 19.5% of “Rosneft” — the ban on the sale of these shares for three years. On Tuesday, Ulyukayev suggested that might be the interpretation that this does not apply to “Rosneft”. “Either modify the eligibility requirements”, he added.
Putin in October, also said that Rosneft’s purchase of its shares is possible only “as an intermediate step in order to do the following — true privatization.” “If “Rosneft” will be able to sell its own shares along with the government of the Russian Federation, if we will do all that it will be a natural step, a real big Russian privatization of large state ownership, without losing control package”, — he stressed.
For the next month it will be difficult to attract investors to buy shares in Rosneft, especially considering the failure of LUKOIL’s participation in the transaction, says a senior analyst of Sberbank CIB Valery Nesterov. In his opinion, foreign investors need more time to obtain all approvals and decision-making. Therefore, the most likely scenario for the privatization of 19.5% of “Rosneft,” Nesterov calls savvycom of shares of “Rosneft” with their subsequent resale to real investors in the next year.
With the participation of Lyudmila Podobedova
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