If Lukoil wants to buy Bashneft, Russian antitrust has no objections

MOSCOW, Feb 17 (PRIME) -- If Russian oil producer Lukoil decides to buy a stake in oil company Bashneft, the Federal Antimonopoly Service will likely approve it, service’s Director Igor Artemyev told reporters on Wednesday.

“Lukoil’s market share stands at less than 10%, and if it buys Bashneft, the market share of which stands at about 5%, it will be a total of 15%. While only market shares exceeding 35% threat us with a monopoly. We are likely to approve such a deal,” he said.

On Tuesday, Lukoil CEO Vagit Alekperov said that the company is ready to take part in privatization of Bashneft and may buy a controlling stake in the company.

Deputy Prime Minister Arkady Dvorkovich said that the government plans to define conditions of privatization of Bashneft soon and hopes for high interest to the asset from strategic investors, including Lukoil.

Russia earlier nationalized a 73.94% stake in Bashneft. The Federal State Property Management Agency later boosted the stake to 75.08% and transferred a 25% stake to the government of the republic of Bashkortostan.

Gazprombank’s analysts evaluated a 25% stake in Bashneft at U.S. $1 billion.

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