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. Last Updated: 07/27/2016

3 Eastern Bids

A news agency reported Thursday that there are three major bidders for a recent auction for 50 percent plus one share of Eastern Oil Company, despite plans for the bids to be opened publicly on television Dec. 5.

According to Interfax, preliminary reports placed Menatep Group's bid at 4.8 trillion rubles ($811 million), followed by 4.2 trillion rubles bid by companies tied to Inkombank and 2.6 trillion rubles by LUKoil.

Another tender for 34 percent of the company has attracted bids from two companies representing the interests of some of Russia's most powerful financial organizations, the agency reported.