June 2004

Columns

HPIn Europe: Uncertainty over Sibneft grows

According to analysts in Moscow, the French Total SA has been given prior approval to buy 25% of Sibneft's shares from Russian authorities. Seemingly, the government is interested in ?continental Euro..

Pitt, R., European Refining & Marketing

According to analysts in Moscow, the French Total SA has been given prior approval to buy 25% of Sibneft's shares from Russian authorities. Seemingly, the government is interested in ?continental European capital? appearing on the Russian market. At first, Anglo-Saxon capital represented by BP came to Russia; major Asian investors may now be invited to Russia's economy to balance interests in the future. At the same time, according to these reports, the block of shares that Total is reported to be buying is unlikely to be confined to 25%. In this situation, another big shareholder in Sibneft will have 67% of Sibneft's shares and it would then be difficult to sell such a block to anothe

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