The second-largest shareholder in Russian-focused oil firm Exillon Energy is considering a takeover bid for the London-listed group.
Hanberg Finance, owned by Russian businessman Mikhail Gutseriev, confirmed it was considering an offer to buy the rest of the shares in the group.
Gutseriev already owns 14.9% in the oil firm, which produces more than 19,000 barrels of oil per day from its two sites in northern Russia and western Siberia.
Now the entrepreneur, who also owns Russian Coal and GCM Global energy, has opened talks with Exillon over the remaining 85.1%, with an offer of at least 300p per share.
The move follows an approach from Exillon founder Maksat Arip in October for the £482million-valued firm.
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