Russian Rail May Sell 5% in Novorossiysk Port, Interfax Reports

OAO Russian Railways (RZHD) is ready to discuss selling its 5 percent stake in OAO Novorossiysk Commercial (NMTP) Sea Port to OAO Rosneft (ROSN), the state-controlled oil producer, Interfax said, citing Vladimir Yakunin, head of the rail monopoly.

Yakunin was responding to questions after Kommersant newspaper reported today that Deputy Prime Minister Igor Sechin proposed Rosneft buy both Russian Railways’ stake and the government’s 20 percent in the port, the news service said.

Russian Railways is willing to take control of the government’s stake, while considering state ownership to make more sense, Interfax said, citing Yakunin.

To contact the reporter on this story: Ekaterina Shatalova in Moscow at eshatalova@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

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