MOSCOW, October 18 (RIA Novosti) - Economic Development and Trade Minister German Gref commented Tuesday on state-owned natural gas monopoly Gazprom's purchase of a controlling stake in oil company Sibneft, saying there were both plusses and minuses to the deal.
"As long as the company's management becomes more effective, it will be positive for Gazprom... There will probably be a positive influence on the market as a whole, on Gazprom's share price, and on Gazprom's borrowing ability," Gref said.
"From a macroeconomic point of view, I think this is a fortunate decision... We are increasing the state's presence in the economy and widening the monopoly's sphere of activity."
However, it would have been better if Gazprom had used the funds to invest in expanding natural gas production and building pipelines, he said.
