Repsol should not sell shares to Lukoil

In the Spanish daily El País, Miguel Boyer Salvador, former Spanish minister of economy and finance, advises against the sale of shares in the Spanish oil company Repsol to Russian oil giant Lukoil: "It would be very bad for Spanish industry if any foreign company were allowed to purchase a large stake in Repsol, but if that company is Russia's Lukoil it would verge on the preposterous. ... Contrary to what Lukoil claims whenever convenient, the North American company Conoco is not the majority shareholder in Lukoil with its 20-percent stake. The majority shareholder with a 20.4 percent stake is Lukoil president, Vagit Alekperov, and together with vice president Leonid Fedun, who owns 9 percent, he controls 29.4 percent of the shares."

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