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Gazprom has no immediate plans to consider share buyback

Reuters
·1-min read
FILE PHOTO: St. Petersburg International Economic Forum (SPIEF)

MOSCOW (Reuters) - The board of Russia's natural gas company Gazprom does not plan to consider buying back its shares or shares in the OGK-2 subsidiary, the company said on Wednesday.

In a corporate filing this week, Gazprom said the agenda of its Sept. 13 board meeting included "approval of acquisition of shares".

"It does not mean a purchase by Gazprom of its own shares or shares in OGK-2," the company said.

Lukoil and Magnit are among several Russian companies which have announced plans to buy their shares from foreign investors deprived of the ability to trade in Russian securities due to the Ukraine conflict.

(Reporting by Reuters; Editing by Marguerita Choy)