Rosneft denied participation in Slavneft tender

The Financeprofit Expert company, which is affiliated to Rosneft, has not been granted admittance to participate in an auction on selling the 74.95-percent stake in Slavneft, press secretary of Slavneft Alexander Stepanenko told RBC today. According to him, this decision was made with violations of the corresponding legal procedure. Stepanenko stressed that Financeprofit Expert was ready to propose $2.5bn for the Russian government's block of shares in Slavneft. However actions of the government structures lead to the situation that the budget "is unlikely to receive a sum, which exceeds the initial price", he added.

At the same time, seven companies have obtained the right to take part in the tender including Esterling, Universal, Fintrade, Invest-oil and Optifor, a source in the Russian Federal Property Fund told RBC.

As reported earlier, the tender on selling the 74.95-percent stake in Slavneft is to be held today. According to oil market analysts, this stake may be sold for $2bn-3bn.

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