LUKoil Likely to Keep Stake

By The Moscow Times

Oct. 5, 2010

LUKoil is unlikely to resell the shares it bought back from its strategic investor ConocoPhillips as the U.S. major cut back its holdings, Andrei Gaidamaka, head of investment analysis at LUKoil, said Tuesday.

ConocoPhillips has now sold more than 13 percent and is expected to sell the remainder on the market. Gaidamaka said LUKoil did not plan to buy the shares on the market, but that would depend on the price.

(Reuters)

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