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. Last Updated: 07/27/2016

State to Sell Oil Stake

MOSCOW -- State Property Minister Farid Gazizullin said Thursday the government is preparing to sell 9 percent of oil giant LUKoil and it already has several bidders lined up.

The state currently holds 26.6 percent of Lukoil.

Gazizullin said the 9 percent stake - about 60 million shares worth $600 million at current market prices - would be sold soon at a commercial tender.