Russia's Lukoil not interested in bidding for Hungary's MOL - Dep.CEO

http://www.portfolio.hu/en/cikkek.td...

Wednesday, April 8, 2009 10:32:00 AM

OAO Lukoil, Russia's largest non- state oil producer, remains interested in buying oil refining assets in Europe but it does not have Hungary's MOL in its acquisition crosshair, Bloomberg cited Lukoil's Deputy CEO as saying.

Lukoil is interested in buying oil refining assets in Europe for a “fair price," Leonid Fedun told investors in New York, adding that it does not have any plans to bid for MOL or assets in Lithuania.

Surgutneftegas, Russia's fourth-largest oil company (and one of the least transparent enterprises in the country) bought OMV's 21.2% stake in MOL last Monday for EUR 1.4 bn.

The news deserves attention because there are voices on the market saying Surgut may consider re-selling a part of its MOL package to another Russian oil company - possibly to Lukoil or Gazprom - so that its voting right (which is capped at 10% by MOL's Article of Association) would double.