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News // Russia

LUKoil To Fall Under The Hammer

01 June 2004 , 09:55498
Russian Government is likely to sell by auction its 7.6 per cent stake in Lukoil, Russia?s oil giant.

According to Russia?s Economic Development Minister German Gref, the government would discuss its decision next week and then announce dates and details of the sale.

However, German Gref added that the government wants to boost its 38 pct holding in gas giant Gazprom.

In analysts? opinion, the Russian Government would agree to liberalize stock transactions in Gazprom only when it was assured of controlling at least 50 pct of the group's capital.


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