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Russia's Gazprom could buyback own shares.

January 31, 2014

Russia's largest natural gas producer and pipeline exports monopolist state-controlled, Gazprom , could buy back its own shares in the coming months. Following unconfirmed reports of a planned buyback, deputy head of the company Alexander Medvedev told the Russia24 channel that now is a good timing for buying back the shares to support the capitalization in the future. Medvedev believes that Gazprom's shares are "absolutely undervalued" and the company has huge upside potential in terms of capitalization. Buying back the shares would also support the demand and improve the attractiveness of the shares. According to Reuters Gazprom's capitalization is not at about USD 77bn . Gazprom is one of the cheapest big capitalisation stocks in the Russian market.

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Source: IntelliNews - Weekly Reports

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