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. Last Updated: 07/27/2016

Tyumen Stake Sold

MOSCOW -- Russia has sold 1.17 percent of Tyumen Oil Co. for 123.68 million rubles ($20.37 million) in an auction at which 48.68 percent of the firm was offered, Reuters quoted the Federal Property Fund as saying Thursday.

The fund said that 862 bids out of 864 received were successful at the auction that finished March 16, though it did not identify winners or the size of the individual lots bought, Reuters reported.

Interfax, however, said Thursday that the Alpha Group consortium has bought the 1.17 percent stake, having originally intended to buy 15 percent to 20 percent but declining due to poor world market conditions.