Repsol YPF's CEO Antonio Brufau in Madrid: Spanish-Argentinian giant a target for takeover.
Chinese may revive YPF offer
China National Petroleum Corporation (CNPC) plans to revive a $17 billion bid for the Argentinian unit of Spanish oil major Repsol-YPF.
CNPC may offer to buy up to three-quarters of YPF, the newspaper reported, adding that top offshore oil and gas producer China National Offshore Oil Corporation was also eyeing a 25% stake, according to a report on the South China Morning Post.
A Repsol spokesperson said the company has received “lots of proposals, ideas and suggestions from companies in China, India and Russia” but no “firm offer”.
No decision has been made on “selling YPF”, he said.
Repsol also reiterated it was open to new shareholders.
CNPC had failed twice in 2007 to buy all of YPF's Latin American assets due to some commercial reasons, the Chinese newspaper reported.