VILNIUS, October 5 (RIA Novosti, Vladimir Vodo) - Russia's LUKoil and the Russian-British TNK-BP are favored to win the bid for controlling interest in the Lithuanian oil major Mazeikiu Nafta, Lithuanian Prime Minister Algirdas Brazauskas said at a press conference Wednesday after a meeting with TNK-BP's head.
Russian-British joint venture TNK-BP is looking to buy a Mazeikiu Nafta stake, whatever the size, at market value, said CEO German Khan.
Both TNK-BP and Lukoil could pay up to $1 billion for 53.7% of Mazeikiu shares put up for sale by a Dutch-registered Yukos subsidiary, Yukos International U.K. B.V.
The Lithuanian government, which owns 40.66% of Mazeikiu's shares, is selling off half of its stake, hoping to get $350 million.
Early next week, the board of Lithuania's ruling party will pick one of the two strongest bidders and begin joint negotiations with Yukos, Brazauskas said.
