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Gazprom to buy 16.3 per cent of SPP

Russian gas company Gazprom says it wants to use its option to purchase 16.3 percent of Slovak gas company Slovenské plynárnský priemysel (SPP) by the end of this year, according to Moscow daily Vedomosti. The price of its stake is estimated at $900 million (837 million euro).

In SPP's initial privatisation, a consortium of Ruhrgas, Gaz de France, and Gazprom agreed a price of $2.7 billion (2.5 billion euro), but only Ruhrgas and Gaz de France paid their shares. Due to financial problems within the company, Gazprom was given an option to put off the purchase of its share until 2004.

Compiled by Conrad Toft from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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