Russian tycoon abandons plans to buy Oeger Tours

FRANKFURT Jan 12 (Reuters) - Russian billionaire Alexander Lebedev has abandoned plans to buy a majority stake in Germany's sixth largest tour operator Oeger Tours for now because the deal was currently not achievable, Oeger said on Monday.

"After months of intensive and confidential talks, both parties have come to the conclusion that the planned transaction is not feasible at the current point in time," Oeger Tours owner Vural Oeger said in a statement.

But Lebedev's holding company Alpstream and Oeger Tours could take up negotiations again at a later stage, Oeger added.

Lebedev initially wanted to buy a 76 percent stake in the German tour operator, which specialises in trips to Turkey and posted sales of 773 million euros ($1.04 billion) in 2007/08.

But late last year, German media reports said Lebedev had difficulties arranging financing for the deal.

Oeger's cooperation with Alpstream's airline Bluewings will continue and is not affected by the developments, Oeger said.

(Reporting by Eva Kuehnen; Editing by David Cowell)