MOSCOW (Sputnik) — All the preparatory work for the privatization of 19.5 percent of state-run Rosneft energy company will be completed in early December, Russian Economic Development Minister Alexei Ulyukayev said Wednesday.
"There is a schedule that has been prepared by the consultant, Intesa Sanpaolo bank, and according to the schedule all procedures are to be finalized somewhere in the beginning of December," Ulyukayev told reporters.
The Russian 2016 economic development plan specifies partial privatization of state assets to support budget revenue, which has suffered due to falling oil prices. Rosneft and Bashneft oil and gas companies, the ALROSA group of diamond mining companies, VTB bank, as well as the Sovcomflot maritime petroleum and liquefied gas shipping company, are among the companies to be partially privatized.
