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Banks fight for Statoil job

Twelve international and four Norwegian banks are negotiating with the Ministry of Petroleum and Energy for what may be next year's most lucrative underwriting job in Norway: Statoil's flotation on the stock market.

"We are negotiating with these 16 companies and will make our choice when the government has come to the conclusion and laid the matter before the Storting," Tore I. Sandvold, director general of the ministry, told Aftenposten.