Research Notes

Gas distribution industry consolidation: Hedging opportunities

12.05.08

After the publication of the valuations for the state share packages in gas distribution companies before their handover to Rosneftegaz, market quotes for most regional gas distribution companies moved towards the Federal Property Management Agency’s (Rosimushestvo) valuations. Nonetheless, the existing uncertainty over Gazprom’s potential offer is an additional risk for investors, and should be factored in. The mixed valuations of regional gas distribution companies could mean excellant hedging opportunities.

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Sector:  O&G
Company:  Gazprom

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