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37

LUKOIL Not To Buy All 11.61 Percent of Shares From ConocoPhillips

LUKOIL does not plan to use its entire option to buy its shares (11.61 percent) from ConocoPhillips, LUKOIL Vice-President Leonid Fedun said according to RBK.

 

LUKOIL does not plan to use its entire option to buy its shares (11.61 percent) from ConocoPhillips, LUKOIL Vice-President Leonid Fedun said according to RBK. Fedun explained that the company does plan to buy out all the shares since it does not know how the situation might change by the time the option expires on September 26. He added that LUKOIL also has no plans to attract extra funds for this goal.
In March, ConocoPhillips stated that it planned to trim its stake in LUKOIL's authorized capital from 20 percetn to 10 percent by selling on the open market. But last month, the US company unexpectedly announced it would completely exit LUKOIL by the end of next year.  

Source : Oil and Gas Eurasia