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BERLIN, October 24 (Itar-Tass) —— Russia’s Gazprom plans to buy the German energy and telecom company Envacom headquartered in Hesse.
The company produces electric power using alternative sources of energy, sells natural gas, mobile phone and Internet services.
If acquired as planned, Gazprom will for the fist time get access to the end user of natural gas in Germany. “It is true that Gazprom has shown interest in purchasing all parts of Envacom Service GmbH,” its official told Handelsblatt. “Concrete takeover negotiations have been going on for several months.”
On October 18, the Federal Cartel Office approved the sale of a considerable portion of Envacom shares to Gazprom. The application was filed on behalf of Gazprom Marketing and Trading (GM&T), Gazprom’s division based in Britain.
Envacom GmbH, founded in 1999, is an independent energy provider. By selling energy through the Internet, it competes with Germany’s leading energy concerns such as RWE and E.ON. The company’s turnover in 2011 is expected to reach 75 million euros. Envacom claims to have about 500,000 customers, one fourth of whom buy natural gas and electricity, and the rest use mobile phone and Internet services.