Rustem Khamitov: Negotiations for sale of republican stake in Bashneft are not conducted

UFA, 17 February 2016. /Bashinform News Agency, Alexander Smirnov/. Bashkortostan has no plans to sell a 25 percent stake in Bashneft company. This was stated by the Head of the Republic Rustem Khamitov.

“With regard to the block of shares belonging to the republic - 25 percent plus one share, our position is as follows – not to sell”, said the Head of the Region. “We have just celebrated the stake transmission into republican ownership. Of course, we have no right to disappoint our citizens with the news of sale of this stake.”

Rustem Khamitov noted that currently it was not profitable to sell this stake, because the capitalization of the company in recent years had decreased from 10 to 4.5 billion dollars. And now the stock price is not high.

“So our position is quite simple - not to sell, not to enter into negotiations on this issue”, said the Head of the Republic. “We do not conduct any negotiations for sale of our stake.”