14 May 2004 00:46
RUHRGAS SUPPORTS GAZPROM MARKET LIBERALIZATION
"This is the right move," he said.
He also said that the government needs to take concrete steps, as
ESSEN. May 11 (Interfax) - Germany's Ruhrgas supports the liberalization of the Gazprom share market, Ruhrgas
CEO Burckhard Bergmann told journalists.
Ruhrgas owns 6.43% of shares in Gazprom.
The final aim of liberalizing the market is to unite the domestic
and external markets for the company's shares. The gradual
it has a majority on the Gazprom board of directors. "When liberalizing the market the state should observe its
interests and maintain its stake in Gazprom," Bergmann said.
liberalization process includes total freedom to trade Gazprom shares on the domestic market, on all exchanges with a
license from the Federal Securities Commission. This liberalization will also involve lifting restrictions on depository
operations with shares belonging to Russian market participants. It is also planned to fill the 20% quota for foreign
market participants and to set up a single depository to protect the rights of foreign shareholders.
[Interfax] |
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