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. Last Updated: 07/27/2016

Gazprom Stake Sale

MOSCOW -- The government is preparing to sell 2.5 percent of Gazprom, the world's biggest gas producer, in a bid to raise cash for its severely depleted coffers, Interfax reported Friday.

Fuel and Energy Minister Sergei Generalov said the documents for the sale had been prepared and a decision could be made in the next few days.

Another official said the state had decided to sell 2.5 percent of the monopoly and the offer could be launched Nov. 5 with the results announced Dec. 20. The transaction is expected to raise 10 billion to 11 billion rubles, he said.