Russian energy giant Gazprom said Tuesday it would acquire state-owned oil company Rosneft in a stock swap expected to ultimately ease restrictions on foreign investment in the world's biggest natural gas producer
Published:
16 September 2004 y., Thursday
Russian energy giant Gazprom said Tuesday it would acquire state-owned oil company Rosneft in a stock swap expected to ultimately ease restrictions on foreign investment in the world's biggest natural gas producer. Gazprom shares surged 15 percent.
Analysts welcomed the proposal, which gives the Russian government a controlling stake in Gazprom — a key condition for President Vladimir Putin's long-promised lifting of limitations on share ownership.
"Soon we will have a large company, that in the future would be turned into a transnational company of world significance," Prime Minister Mikhail Fradkov said in comments carried Tuesday evening by the Interfax news agency.
Foreigners now are barred from owning local stock in Gazprom, which is the largest supplier of natural gas to Europe and controls 10 percent of the world's natural gas reserves.
While an estimated 6 percent to 8 percent of local Gazprom stock is owned by foreigners domestically through various indirect schemes, only 4.42 percent of the company's shares trades on foreign stock exchanges — at a considerable premium.
Šaltinis:
story.news.yahoo.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Women in the EU earn on average 18% less than men - a gap that has scarcely narrowed over the last 15 years and in some countries has even grown.
more »
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.
more »
Georgia and the European Union have initialled a comprehensive air services agreement at a meeting in Tbilisi, Georgia, today which will open up and integrate the respective markets, strengthen cooperation and offer new opportunities for consumers and operators.
more »
In order to vitalize and strengthen cooperation of business stakeholders in the region, the Nordic and Baltic countries continue running joint mobility programme.
more »
The EBRD is boosting the availability of financing to the real economy sector in Serbia, with a €20 million credit line to Société Générale Serbia for on-lending to small and medium enterprises.
more »
The EBRD is supporting the development of the private sector in Armenia and increases further the availability of financing in the real economy sector with a $10 million loan to Ameriabank for on lending to local companies under its Medium Sized Co-financing Facility (MCFF).
more »
The EBRD is supporting the modernisation and improvement of transport infrastructure in Albania with a €50 million sovereign loan to finance the rehabilitation of regional and local roads in the country.
more »
Given the deep impact Latvia has suffered in the wake of the global crisis, and due to the emergency nature of this program, the first operation will focus mainly on the first and second objectives.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis.
more »
Without enough money, the EU 2020 strategy risks turning into "another vague scoreboard for the Member States", the EP Budgets Committee warned on Thursday when adopting its priorities for the 2011 budget.
more »