13-economic/ConocoPhilipps wins stake in Russia's Lukoil oil company Moscow, Sept 29, SPA -- U.S. oil giant ConocoPhilipps on Wednesday paid nearly US$2 billion (¤1.6 billion) for the Russian government's 7.6 percent stake in Russia's Lukoil _ the world's No. 2 oil company by reserves _ in Russia's biggest privatization. ConocoPhilipps bought the stake for US$1.988 (¤1.613 billion), only a fraction above the US$1.928 (¤1.564) starting price, acting through Springtime Holdings Ltd., a vehicle company. John Lowe and John Carig, ConocoPhilipps' vice presidents, acted as bidders in the auction. \"Of course, we are satisfied with the biggest price in Russia's privatization,\" said Lukoil Vice President Leonid Fedun. \"We are expecting a significant increase in the capitalization of the company.\" Other applicants at the Lukoil auction included Russia's Promsvyazbank and Promregionholding, who represented unidentified clients.
