Spain Business
More Russian interest in Repsol reported
By h.b.
Nov 20, 2008 - 6:50 AM

The Russian petrol company Lukoil is negotiating the purchase of 30% of the Spanish firm Repsol YPF.

El Mundo newspaper, quoting Europa Press, reports this morning that the second largest private petrol company in Russia wants to buy the 20% of Repsol put up for sale by construction group, Sacyr Vallehermoso, and an additional ten per cent now in the hands of other shareholders. Current stock market prices would make 30% of Repsol worth more than 5 billion €.

A statement from Repsol has denied the claim, saying that they are holding talks with nobody.

The Spanish government has already indicated that they oppose the entry of Russian investors in the firm, following rumours last week that Gazprom was interested in the Spanish firm.