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Gazprom, IES Merger Waits

Gazprom and Viktor Vekselberg's IES Holding will miss a target to approve a tie-up of their power assets by the end of this year.

Gazprom's board didn't review the deal Tuesday, Denis Fedorov, head of the Russian gas producer's power division, told reporters Wednesday. "It is obvious we won't close the deal this year," Fedorov said.

The partners are working to resolve some remaining legal and commercial differences and complete the deal as soon as possible and the Federal Anti-Monopoly Service is expected to rule on the deal on Dec. 27 or 28, Fedorov said.

(Bloomberg)

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