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Gazprom eyes stake in Főgáz – paper

Russian energy giant Gazprom is in intensive negotiations with Budapest’s City Hall on the sale of the local council’s 50%-plus-one-vote stake in gas company Főgáz, daily Népszabadság reported on Friday.  

The Budapest local council voted a week ago to start the privatization of its stake in Főgáz. Főgáz’s minority owner, Germany’s RWE, has a preemption right for the stake, but Gazprom, which earlier said it is interested in expanding in the EU, has also signalled its interest in the stake. But Gazprom is “not prepared” to pay “several hundred” or even the hundred billion forints the city council earlier said it expects the sale to generate, Népszabadság said.

Neither Gazprom nor RWE would comment on the matter when asked by Népszabadság. (MTI-Eco)