Russian oil firm privatization push proceeds amid takeover battles

08/07/2000
The Russian Ministry of Property Relations has submitted draft resolutions to the government on the sale of 19.68% of the shares in the Slavneft oil company and 85% of Onako in what could herald a new phase in the carve-up of the Russian oil industry (OGJ, July 3, 2000, p. 30). The government has long been mulling the idea of amalgamating Slavneft, Rosneft, and Onako as a state oil company but has now decided to privatize Onako and Slavneft separately.Observers say the three companies combined could have been hard to manage and would have been unbalanced. Also, the combined company would have cost too much to establish.Privatizing each company on its own now appears to be a more lucrative...
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