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
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »