The German concern E.ON could soon sell a 3.5 percent stake of shares in Gazprom, Golos Rossii reports, citing Interfax. The German company began selling the shares in the second quarter in small lots, but the deal has not been completed yet. However, a source said an announcement on selling the Gazprom shares could be made by the end of the month.
Another source expressed his opinion that the stake could be sold directly to a Russian entity with direct of indirect state participation. He said a direct purchase by Gazprom itself was unlikely, since the deal would have to pass a large number of approval processes and be included in the monopoly's investment program. The market value of 3.5 percent of Gazprom is currntly slightly over $4 billion.