Pemex Open to Other Investments after Repsol Sale

Mexican oil giant Pemex does not rule buying shares in other companies after it sold most of its stake in Spanish peer Repsol over management disagreements and low returns, the company said on Wednesday.

CEO Emilio Lozoya declined to specify which projects or companies Pemex could be interested in buying into.

Pemex sold 7.86 percent of Repsol, worth around $3 billion, to unspecified private investors earlier on Wednesday, and sources at the Mexican firm say the company plans to sell its remaining 1.4 percent stake in August.

(Reporting by Ana Isabel Martinez and David Alire Garcia)