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Russian State's Buyng Gazprom Stake On the Cheap Failed

Russia's natural gas monopoly Gazprom's board disagreed with the price

Russian State's Buyng Gazprom Stake On the Cheap Failed

Russia?s natural gas monopoly Gazprom?s board disagreed with the price of a 10.74 stake which the Russian state wanted to buy.
The meeting which continued until at least midnight, was postponed until Thursday.

Last week the Russian Economy Ministry prepared a government directive which said that the state would pay $7.15 billion for Gazprom?s stake, just below current market prices.

However, according to the evaluations of Morgan Stanley and Dresdner Kleinwort Wasserstein investment banks, the price should be between $8.4 billion and $11.5 billion.

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