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.
(ITAR-TASS)
