1 Min Read
Oct 12 (Reuters) - Russia's privatisation drive will be more efficient after the country's largest oil producer Rosneft purchases a state stake in mid-sized oil firm Bashneft , President Vladimir Putin said on Wednesday.
Speaking at an economic forum, Putin said that now a 19.5 percent stake in Rosneft could be sold to private foreign investors.
The Russian government asked Rosneft board to approve the purchase of a 50.1 percent stake in Bashneft for a price not higher than 330 billion roubles ($5.3 billion).
$1 = 62.2255 roubles Reporting by Alexander Winning and Katya Golubkova, Writing by Andrey Ostroukh, Editing by Vladimir Soldatkin