The liberalization of the market of Gazprom shares should bring about the unification of the internal and external markets of Gazprom shares. At present, the concern's shares circulated on the internal market are much cheaper than those circulated on the external one. Besides, foreign investors cannot buy the Russian gas monopoly's shares directly on the Russian market; they can do this only through ADRs (American Depository Receipts). The price difference leads to Gazprom's lower capitalization.
In Shuvalov's words, as soon as the appropriate decisions are signed, the transaction for the Gazprom-Rosneft merger will reach a new level. Then, it will be possible to talk about the purchase of additional energy assets by the new company.
"This is for Gazprom, for its management and board of directors, to decide on this issue. If they want to buy, let them buy, the main thing is that it should be done within the framework of the anti-monopoly legislation," the president's aide continued.
In Shuvalov's opinion, it would be irrelevant to talk about the purchase of additional energy assets before the conclusion of the transaction on the Gazprom-Rosneft merger.
The valuation of Gazprom and Rosneft's assets has not been completed; the transaction for the companies' merger will be legally formalized only after the completion of this process, Shuvalov said to journalists.
"A strategic decision on the companies' unification has been taken, but it will be legally formalized only after the data on the cost of the assets is received. The decision will be made if the figures are justified." he said.
In Shuvalov's opinion, the Gazprom-Rosneft merger will hardly be completed till the end of this year. To quote him, "as regards the time of the merger, we shall hardly be able to complete it by the end of this year."
