GAZPROM: TIME IS MONEY
Last week the Deputy Chairman of Gazprom Alexander Medvedev met with the EU Competition Commissioner Margrethe Vestager for the first time to discuss the antitrust case launched against the company. Following this meeting Mr Medvedev made it clear that he hoped that the case could be 'amicably settled'. There are indeed compelling reasons for Gazprom to do a deal. First market developments are rendering Gazprom's existing business model irrelevant and it is that business model which is being substantially challenged in the antitrust case. Secondly, the consequences of an actual published EU competition decision against the company would be devastating in terms of reputation and scale of liability. Both these factors provide compelling incentives…
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