Russian gas holding Gazprom intends to commence work to buy back its stocks on the open market in October-November 2007. On Friday the gas giant released relevant explanations to a tender to select a broker as to buy back its shares. We plan to start work with the broker in October-November 2007. Gazprom will spend around Rub 1 bln on stock buyback procedures. Meanwhile, the number of equities to be purchased will depend on their market value at the time of acquisition the gas holding said in a press release.
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[Source: Russian Stock Market Blog]
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