Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Khristenko Attacks Gazprom-Sibneft

Industry and Energy Minister Viktor Khristenko criticized Gazprom's $13.1 billion takeover of oil firm Sibneft on Wednesday, saying the deal would strengthen the gas giant's monopoly position.

"This deal raises concerns linked to the size of Gazprom, the state's role in the company and the fact that it is already a monopoly -- and will also have an oil business," Khristenko told Vedomosti.

Khristenko cautioned that under plans to liberalize trading of Gazprom's equity free float, foreign investors would have a greater say in how the company is run.

"Foreign investors will ... watch the company closely," Khristenko said.

"We cannot ignore this, because there are laws and regulators on those markets where Gazprom's shares are traded."