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Russia's Lukoil will not consider buying 25% in Bashneft — official

April 04, 18:09 UTC+3
Lukoil earlier expressed its interest in buying a controlling stake in Bashneft
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MOSCOW, April 4. /TASS/. The Russian oil major Lukoil will not even consider buying a 25% stake in the Russian oil producer Bashneft, Lukoil’s Vice President Leonid Fedun said on Monday.

"We will not even look at 25%," Fedun said.

The company is not ready to overpay, he added. "We have a model, we have understanding of a fair price and we will not pay a cent more," Fedun said.

Lukoil earlier expressed its interest in buying a controlling stake in Bashneft but the company has not yet made any formal proposal for the government.

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