Couldn't really work out how to describe the Gazprom/Sibneft merger. Adam Landes from Reniassance Capital cuts to the chase.
"Clearly, this deal is way below the market price and below a fair estimate of [Sibneft's] market value," said Adam Landes, an analyst at Moscow-based brokerage Renaissance Capital. "From an industrial point of view, it adds very little for Gazprom, and strategically it's a waste of time."
Couldn't really work out how to describe the Gazprom/Sibneft merger. Adam Landes from Reniassance Capital cuts to the chase.
"Clearly, this deal is way below the market price and below a fair estimate of [Sibneft's] market value," said Adam Landes, an analyst at Moscow-based brokerage Renaissance Capital. "From an industrial point of view, it adds very little for Gazprom, and strategically it's a waste of time."
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