U.S. oilfield services giant Schlumberger Ltd. (NYSE: SLB) has withdrawn its bid for a stake in Russia's Eurasia Drilling Co. (EDC), Russia's Federal Anti-monopoly Service (FAS) said Feb. 4.
Schlumberger, which has its own business in Russia, said last month it would withdraw its application to buy a stake in EDC if it didn't get regulatory approvals soon.
Schlumberger's office in Moscow had no immediate comment.
The U.S. company had planned to acquire up to 49% of EDC, Russia's largest oil services provider.
The withdrawal marks Schlumberger's second failed attempt to buy EDC. In 2015, the U.S. company agreed to purchase 45.65% of EDC for $1.7 billion, but the deal fell through after the FAS repeatedly postponed its approval.
Schlumberger made its latest bid last year.
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