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9

Gazprom's Stake Fate Is Determined

The Russia's government will pay for a 10.7 percent stake in Gazprom by the end of the year

The Russia?s government will pay for a 10.7 percent stake in Gazprom by the end of the year, Interfax reported Wednesday, referring to Economic Development and Trade Minister German Gref?s reports.

The purchase of the stake will be registered by June 24, Interfax said. Gazprom holds its annual shareholders meeting that day.

The state needs the stake to gain direct control of the company, allowing President Vladimir Putin to deliver on a pledge to end limits on foreign ownership of Gazprom shares.