Prime Minister Sergei Kirienko yesterday announced fresh terms for the auction of Rosneft, the last big oil company still in state hands. The government hopes the sale will produce a much needed injection of cash, having been seriously embarrassed last week when the company failed to attract any bidders at the US$2.1 billion starting price the government had set. Kirienko named a new starting price yesterday of US$1.4 billion for a 75 percent stake in the company.
President Boris Yeltsin is due today to hold a meeting with Russia’s top businessmen: The meeting was originally set for the end of last week but was postponed without explanation. A Kremlin spokesman denied yesterday that the meeting was linked to Russia’s financial crisis.
RUSSIA STRUGGLES TO MEET SPACE STATION OBLIGATIONS.