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Russia anti-monopoly service to back Rosneft' s Itera bid

Russia' s Federal anti-monopoly service will support Rosneft' s bid to buy out its partner in gas firm Itera, FAS Chief Igor Artemev was quoted as saying by Russian newswires. "I' m sure we' ll support the application," he said, Interfax and Prime news agencies reported.

Rosneft last fall acquired a 51% stake in Itera, seeking to expand its position as a gas producer. Rosneft is now buying the remaining 49% from businessman Igor Makarov and his partners, Kommersant newspaper reported in May. Rosneft has not commented on the reported bid.

Rosneft became the world' s largest listed crude oil producer in March after acquiring TNK-BP in deals worth around $60 billion.

Dow Jones Newswires

06/27/2013

 

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