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Russia's economy minister values Rosneft stake for sale at $11.75 billion


MOSCOW (Reuters) - Russia will sell a state stake in oil giant Rosneft <ROSN.MM> using the firm's share price as of Oct. 11, when it stood at 748.3 billion rubles ($11.75 billion), Economy Minister Alexei Ulyukayev said on Monday.

Ulyukayev also said that proceeds from the sale will reach the state budget via dividends from Rosneftegaz by Dec. 15.

($1 = 63.6895 rubles)

(Reporting by Darya Korsunksaya; Writing by Lidia Kelly; Editing by Andrey Ostroukh)