VILNIUS, September 19 (RIA Novosti, Vladimir Vodo) - Russian oil company Lukoil and U.S. concern ConocoPhillips announced Monday that they are planning to bid for beleaguered oil giant Yukos' stake in Lithuania's Mazeikiu nafta.
Speaking to reporters after a meeting with Lithuania's Economics Minister, Kestutis Dauksys, Lukoil and ConocoPhillips executives said they are interested in acquiring the stake, which has a current market value of $1.5-2 billion, as well as part of the Lithuanian government's shares in the company. Both are seeking equal interest in Mazeikiu nafta.
Under an investment agreement, the Yukos management will decide which of the bidding companies their Mazeikiu stake should go to, but the bidder they pick will have to be confirmed by Lithuania's government.
