28-10-2016 15:15 via uk.news.yahoo.com

Russia's Rosneft seeks to increase stake in Bashneft

By Darya Korsunskaya and Oksana Kobzeva MOSCOW (Reuters) - Russian energy major Rosneft is seeking government approval to buy up to 100 percent of oil firm Bashneft after acquiring a controlling stake earlier this month as a part of a state privatisation drive. State-controlled Rosneft paid 330 billion roubles (£4.32 billion) for a 50.1 percent stake in Bashneft, higher than other bidders offered, including privately-owned oil company Lukoil . The region of Bashkortostan owns about 25 perc
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