Madrid - Spain's stock market watchdog CNMV on Friday suspended trade in stocks of the oil company Repsol amid reports that Russian oil giant Lukoil was about to acquire nearly 30 per cent of Repsol.

The CNMV also suspended the stocks of Criteria, a holding of La Caixa bank, which admitted to being in talks with Lukoil about selling all or part of its 12.5-per-cent stake in Repsol to the Russian company.

Lukoil was also reported to be in talks with the construction company Sacyr Vallehermoso, which holds a 20-per-cent stake in Repsol.

Sacyr stocks rose by nearly 14 per cent after trading opened, on top of a 13-per-cent surge on Thursday. Repsol and Criteria shares dropped by more than 2 per cent.

Prime Minister Jose Luis Rodriguez Zapatero on Thursday did not exclude the possibility of Lukoil becoming Repsol's main shareholder. However, Industry Minister Miguel Sebastian said the government wanted to keep Repsol Spanish.

The opposition has expressed concern over the possibility of a Russian company controlling part of the strategic energy sector. (dpa)