Rosneft responded to the words of the Central Bank to influence the...

Rosneft responded to the words of the Central Bank to influence the purchase of “Bashneft” on the ruble


Photo: Bloomberg

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Rosneft does not intend to sell the currency for the purchase of “Bashneft”, reported Mikhail Leontyev. It was a response to the statement of the first Deputy Chairman of the Central Bank Ksenia yudayeva that the ruble may strengthen for a while

The acquisition by Rosneft of a controlling stake of “Bashneft” will have no impact on the currency market, has declared “to Interfax” the press-Secretary of Rosneft Mikhail Leontyev. According to him, the company will not convert currency for the transaction.

“Nothing to sell nor to buy nor to commit acts of this kind, we will not, because if you pay attention to the pattern of actions of our company, then you could guess that we are in this deal are ready,” — said Leontiev.

Earlier on Friday, first Deputy Chairman of the Bank of Russia Ksenia Yudaeva in an interview with Bloomberg saidthat the sale of Rosneft’s currency for the purchase of shares of “Bashneft” can cause a temporary strengthening of the ruble. “This may have little impact on the ruble, which other things being equal, maybe a little stronger temporarily, but not more,” she said.

On Thursday, the government promulgated directives that Rosneft’s purchase of 50.08% of shares of “Bashneft” at a price not higher than 330 billion roubles (originally the consulting company E&Y estimated the package to 297-315 bn). Directive suggest that the members of the Board of Directors of “Rosneft”, which the state must instruct the head of the company Igor Sechin until October 15 to sign the contract of purchase and sale and to achieve necessary for the transaction of permits.

The government also plans in 2016 to sell 19.5% of Rosneft shares. Including discussing the scheme, under which Rosneft will buy out its own shares from state-owned Rosneftegaz for 700 billion rubles, and then sell them to a strategic investor or parts on the market, wrote “Vedomosti”. Analysts at Raiffeisenbank saidthat such a scheme can result in a risk of shortage of currency in the market.