SGX Market Update : Putin said to weigh US$11 bil Rosneft sale to China and India .

Singapore/China(June 20): Vladimir Putin is considering selling part of Russia's corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years.

Russia is seeking buyers for 19.5% of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations leading the growth in global energy demand, two people familiar with the matter said. Officials in Moscow expect to raise at least 700 billion rubles ($14.8 billion) from the sale, which would set a privatisation record for the country.

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