03 June 2004 04:54
Miller, Citigroup talk Gazprom stock market liberalization
MOSCOW. June 3 (Interfax) - Gazprom CEO Alexei Miller and Citigroup International's president and Citigroup vice
president Stanley Fischer discussed the ongoing liberalization of the market for Gazprom stock.
A Gazprom press release reports Miller telling Fischer about company development prospects and the beginning of the
second stage of its reform. They discussed options for working together in organizing financing for Gazprom
Citigroup had been involved in a series of syndicated loans to the Russian gas monopoly for building the Yamal-Europe
gas pipeline.
The investment bank SSSB, part of the Citigroup holding, was the leading organizer of Gazprom unsecured eurobond
loans of $500 million and $700 million in 2002.
The liberalization of the market for Gazprom stock is slated to happen before year-end. The end goal is unifying the
internal and external stock markets. The step-by-step process includes total circulation freedom for Gazprom shares on
the internal market, including stock trading on all floors with Federal Securities Commission licenses, as well as
lifting restrictions on depository registration of stock belonging to Russian operators. [RU EUROPE EEU ASIA EMRG WEU
NGS CORA ENR] cf RTS$#&:
[Interfax] |
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