Russia drops Rosneft sale price

The Russian government has dropped the price of the last big state oil company to be sold off, after no-one bid for the seventy-five-percent of the company on offer.

The sale of the company, Rosneft, was part of the Russian government's plans to raise funds.

The State Property Ministry is now asking for at least one-point-six-billion dollars for the stake being auctioned, instead of two-point-one-billion dollars.

From the newsroom of the BBC World Service