Spanish Finance Minister Pedro Solbes Tuesday said reciprocity should be taken into account when discussing a possible stake buy in Repsol YPF SA (REP) by Russia's OAO Lukoil (LKOH.RS).
Solbes cautioned earlier this month against a possible purchase of a Repsol stake by Russian-government controlled OAO Gazprom (GAZP.RS).
"When the subject of Gazprom came up, what I didn't like was the idea of privatized Spanish companies being acquired by state-owned companies of other countries," Solbes said at a conference. "The problem of Lukoil is somewhat different. But we can't forget that there are some other elements we have to consider, like reciprocity and others."
Lukoil is currently in talks with highly indebted construction company Sacyr-Vallehermoso SA (SYV.MC) to buy its 20% stake in Repsol, and to buy a further 9.9% from other shareholders, among them savings bank La Caixa, for about EUR9.5 billion. Repsol shares fell 1.1% to EUR14.84 at 1237 GMT amid speculation that Lukoil may struggle to get financing for the potential acquisition.