What happened to the UK government's commitment to the free market? Does it disappear when it affects its own companies or is this a case of not wanting a renationalization of by a Russian state-controlled company?
Onésimo Alvarez-Moro
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The UK government warned yesterday that Gazprom, would face "robust scrutiny" if it tried to take over Centrica, the owner of British Gas, after an executive with the Russian gas giant said his group was considering a deal.
Centrica shares jumped up to 25 per cent after a senior official confirmed that Gazprom was interested in a possible takeover of the UK's biggest energy supplier. The stock closed up 11 per cent at 300p, giving Centrica a market value of £11bn.
Alexander Shkuta, deputy general manager of Gazexport, Gazprom's export arm, told an investor conference call that Gazprom was looking at Centrica. Mr Shkuta was quoted by Interfax, the news agency, as saying "the possible acquisition of Centrica . . . is at the moment being analysed and examined. No decision has been taken." He added that, in his view, domestic Russian acquisitions were a more promising way of using Gazprom's financial resources but international acquisitions were possible.
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