Economy Ministry to submit proposals on privatizing Gazprom stocks

The Russian Economy Ministry will present its proposals on liberalization of the market of Gazrpom stocks at a corresponding government meeting to be held on September 26, 2003. In addition, the ministry intends to request Prime Minister Mikhail Kasyanov to speed up the working out of a program for liberalizing Gazrom stocks, Deputy Economy Minister Andrey Sharonov reported at the second Russian-US energy summit today.

According to Sharonov, the government has two alternative ways to privatize Gazprom stocks. In the first way, the government may first increase its share in Gazprom to 50 percent plus one stock and then privatize the rest of Gazprom stocks. In the second way, the government may privatize Gazprom stocks without increasing its share as the latter is large enough to pursue the government's policies.

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