Lukoil CEO: Hasn't Discussed Stake Sale To ConocoPhillips
09-20-04 12:53 PM EST
BAKU, Azerbaijan (Dow Jones)--The chief executive of OAO Lukoil Holdings ( LKOH.RS), Vagit Alekperov, said Monday that the company hasn't yet discussed the possibility of selling a stake in Lukoil to ConocoPhillips (COP).
"For the time being, there is no discussion of a purchase by ConocoPhillips," said Alekperov.
Media reports said U.S. oil major ConocoPhillips not only plans to win the privatization auction for a 7.6% stake in Lukoil, but plans to increase its stake to at least 20%.
Alekperov tried to play down the buy rumors, saying their validity will be seen after the results of the privatization tender.
"The results of the (privatizations) tender will be available on Sept. 29, so we will see then who wins," said Alekperov.
Company Web site:
http://www.lukoil.ru
-By Aida Sultanova and Anna Ivanova-Galitsina, Dow Jones Newswires; 7095-974- 8055;
anna.galitsina@dowjones.com
Dow Jones Newswires
09-20-04 1253ET