Russia's natural gas monopoly Gazprom is likely to buy oil company Sibneft for more than $10 billion
Russia?s natural gas monopoly Gazprom is likely to buy oil company Sibneft for more than $10 billion on the open market, Russian daily Vedomosti reported on Monday.
Gazprom has told Sibneft?s owners they should regain control of a 20 percent stake held by Yukos company. The remaining 8 percent is freely floated.
However, the state oil company Rosneft intends to get that 20 percent stake, currently held by Yukos and to increase it to 25 percent. If Rosneft acquires the 25% stake, it will be able to block key decisions.