State To Pay $7.15bn For Gazprom Stake

Russia?s Economy Ministry has prepared a government directive under which the state is to pay $7.15 billion for a 10.74-percent stake in Gazprom, the Deputy Economy Minister Andrei Sharonov reported on Wednesday.

Sharonov, quoted by RIA Novosti news agency, said the sum had been agreed by the Energy Ministry and the Federal Property Agency.

The price of the stake is to be approved by Gazprom?s board of directors, which is set to convene today, on June 17.