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Rosneftegaz to Spend $4 Billion on State Units, Vedomosti Says

State-owned Rosneftegaz may spend as much as 130 billion rubles ($4 billion) to buy new shares of Russia’s state companies in the energy sector, Vedomosti reported today, citing government officials it didn’t name.

The deal is proposed as a part of Russia’s privatization plan approved by the President Vladimir Putin May 22, the newspaper said. It is not clear yet in which state companies Rosneftegaz may invest, Vedomosti said.

Rosneftegaz already holds stakes in OAO Gazprom (GAZP) and OAO Rosneft. (ROSN)

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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