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Russian antimonopoly watchdog to continue talks with Schlumberger in second half of May

May 11, 16:00 UTC+3

A meeting will be held after the international legal forum scheduled for May 15-18

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MOSCOW, May 11. /TASS/. The Federal Antimonopoly Service (FAS) of Russia will suggest that a meeting with Schlumberger will be held after the international legal forum scheduled for May 15-18, head of FAS Igor Artemyev told reporters on Friday.

"We examined the minutes [of the government commission on foreign investments - TASS] and are sending it now to all stakeholders, including the resolution on Schlumberger," the official said. "We have made a decision and [plan the meeting - TASS] immediately after the legal forum. We will send an appropriate letter today or on Monday to Schlumberger with a proposal to meet," Artemyev said.

Russia’s government commission on foreign investment has given its preliminary approval to acquisition of Eurasia Drilling Company’s (EDC) shares within the range of 25+1 to 49% by Schlumberger, Head of the Federal Antimonopoly Service (FAS) Igor Artemyev said earlier.

FAS received Schlumberger's request to buy a 51% stake in EDC in early February. The company announced plans to enter EDC capital in the summer of 2017, and this is Schlumberger's second attempt to become a shareholder in the largest Russian drilling company, which accounts for 20% of the domestic drilling market (excluding contracts). The previous one failed in 2015 due to fears of the Russian authorities in connection with the new sectoral sanctions.

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