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Lukoil chief: Company to buy back shares if ConocoPhilips sells them
RBC, 18.03.2010, Moscow 13:26:23.Chairman of Lukoil's board of directors Valery Grayfer thinks the company should buy back its shares from ConocoPhilips if they are offered for sale. He indicated that the company's management had not yet discussed the matter, however, adding that the board would consider a range of foreign projects, as well as this topic, during the upcoming meeting in Istanbul scheduled for late April. Yesterday, a rumor spread on the market that the U.S. oil giant ConocoPhilips could sell its 10-percent stake in Lukoil on the open market in the next three years. The sale may be announced on March 24, 2010 (when the company is holding a meeting with investors). At the same time, Lukoil and ConocoPhilips were said to have not reached an agreement on the share buyback price, meaning the Russian oil company would not purchase its shares.
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