MOSCOW, Dec 12 (Reuters) - The sale of oil producer Bashneft , seized by the state this month, is unlikely to happen in the next three years unless the market improves, the head of Russia's state property management agency said on Friday.
"Over a three-year horizon... the likelihood of a deal is small," Olga Dergunova told reporters. She added that the agency was not discussing the replacement of Bashneft CEO Alexander Korsik.
Russia has said it plans to conduct a public sale of Bashneft after conglomerate Sistema transferred its ownership in the country's sixth-largest oil producer to the government to comply with a court ruling that said its privatisation had been unlawful.
(Reporting by Katya Golubkova; Writing by Maria Kiselyova; Editing by Elizabeth Piper)