Repsol: Cnooc Had Never Shown Interest In Buying YPF Stake
August 26 2009 - 6:53AM
Dow Jones News
Chinese oil company Cnooc Ltd. (CEO) has never shown interest in
acquiring Repsol YPF SA's (REP) majority stake in Argentine oil
company YPF, a Repsol press official said Wednesday.
Earlier Wednesday, Cnooc Ltd. (CEO) Chairman Fu Chengyu said his
company has no intention to bid for YPF.
Repsol earlier in August had said the company "has received
expressions of interest on YPF, but no firm bid," but didn't
specify who had expressed interest.
A report on Dow Jones Newswires on August 10, citing two people
close to the matter, said China National Petroleum Corp. and Cnooc
Ltd. proposed paying at least $17 billion for Repsol's stake in
YPF.
"Cnooc was never among the companies that have expressed
interest," the Repsol press official said Wednesday.
The official added that Repsol still hasn't received any firm
offer for the YPF stake. The company has long said it wants to
reduce its 84% stake in YPF.
Repsol shares fell 2.5% to EUR17.29 at 1106 GMT, while Madrid's
IBEX-35 index was down only 0.69%.
Company Web site: www.repsol.com
-By Bernd Radowitz, Dow Jones Newswires, +34-91-395-8125,
djmadrid@dowjones.com;
(Yvonne Lee in Hong Kong contributed to this report)