Are you sure?

Spain's La Caixa says no Repsol talks with Slim

Spanish savings bank La Caixa said it was not in negotiations with Mexican businessman Carlos Slim over the sale of its stake in Repsol YPF.

“We are reiterating our denial. There is no negotiation on this matter,” a La Caixa spokeswoman said.

Spanish daily El Pais said on Friday that Repsol YPF's core shareholders La Caixa and builder Sacyr Vallehermoso are offering Mexican telecoms magnate Carlos Slim a 10% stake in the oil company.

Sacyr is under pressure to hive off assets to reduce its debt pile, which stood at €19.2 billion at the end of June.

The Spanish builder also owns rental property unit Testa and infrastructure company Itinere.

Shares in Repsol fell 1.35% to €21.13, in line with a 1.3% decline on the wider IBEX-35 blue chip index.

The shares gained nearly 5% on Thursday after a report that oil majors and Shell could buy a stake in the Spanish energy firm. (Reuters)