Source Pravda.Ru

Federal Property Fund silent about selling its stake in LUKoil

The Russian Federal Property Fund did not confirm or refute information about the beginning of selling of its 5.9-percent stake in LUKoil on the London Stock Exchange. Alexey Knyazev, the head of the privatization department of the Federal Property Fund, told RosBusinessConsulting that he did not have information about the period and terms of selling the Fund's stake in LUKoil.

Yesterday, Vladimir Malin, the head of the Federal Property Fund, declared in London that the Fund was planning to sell 50m shares in LUKoil.

Meanwhile, according to information from London business community, the placement of LUKoil shares started in December 2 and will continue for three days. Sources say that the Fund expects to receive $800m for its stake.

LUKoil also did not confirm the fact of the selling of its shares, saying that the company was fully ready for the placement, as it had undergone all necessary procedures, including the listing procedure on the London Stock Exchange, in the summer.

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