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Gazprom will not perform buyback of shares until specific decision — source

October 22, 2015, 20:40 UTC+3
TASS reported earlier Gazprom is considering an option of performing the buyback in the nearest future
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© AP Photo/Alexander Zemlianichenko

MOSCOW, October 22. /TASS/. Gazprom will not perform the buyback of its shares, a source in the Russian gas holding told TASS on Thursday.

"There will be no buyback until a specific decision is made," the source said.

TASS reported earlier Gazprom is considering an option of performing the buyback in the nearest future, a source familiar with the outcome of discussion of this issue at the board of directors’ meeting said.

"The buy-back by the company is possible in the coming future," the source said.The issue was discussed at the recent meeting of Gazprom’s board of directors, he added.

The meeting noted the stock market situation and investors’ mood are two components indicative of the buy-back feasibility. "There is some pressure on investors’ side," the source said.

The issue will be examined in the nearest future and the board will continue discussing it thereafter, according to the source.

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