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. Last Updated: 07/27/2016

Gazprom, DMG Deal

MOSCOW -- Natural gas monopoly Gazprom, eager to prevent foreigners from buying its relatively cheap locally traded shares, said it had met investment bank Deutsche Morgan Grenfell concerning a derivatives scheme.

Gazprom said Tuesday in a statement that company officials, the Federal Securities Commission and Deutsche Morgan Grenfell met April 30 to discuss Gazprom's request that the bank consult it on a derivatives scheme launched two years ago that allowed foreigners indirect access to the local shares market.

"Agreement regarding such activity was reached Thursday, April 30," Gazprom said.