Rosneft Won't Sell Forex, Has Funds to Buy Bashneft Stake

Russia's top oil producer Rosneft will not sell foreign currency to buy a controlling stake in mid-sized oil company Bashneft and already has sufficient funds for the deal, Russia's Interfax news agency reported on Friday.

 

The Russian government on Thursday instructed the board of state-controlled Rosneft to approve the purchase of Bashneft's 50.1 percent stake for a price not higher than 330 billion roubles ($5.32 billion).


($1 = 61.9962 roubles)

(Reporting by Jack Stubbs; Writing by Dmitry Solovyov)