ConocoPhillips (NYSE:COP) was sure they had a deal to sell their entire stake in Lukoil (MM:LKOH) back to the company, which they're 40 percent on the way to doing. Comments by Lukoil CEO Vagit Alekperov have raised some doubt as to the rest of the stake, saying the shares should be sold on the open market instead of Lukoil buying them back.
Russian business daily Vedomosti cited Alekperov, "We do not have any intentions to transform LUKOIL into a private company, it should in the future stay public."
According to Alekperov, there hasn't been a decision by the board of directors or management on whether or not they'll exercise the option to acquire the other 60 percent of the stake of Conoco, where the option is scheduled to expire on September 26.
It's hard to tell if this is a serious comment by Alekperov, or one that carries weight, as he made said similar comments before the first phase of acquiring Conoco's stake.
The value of the remaining stake of Conoco is about $5 billion.
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