Gazprom, Vekselberg to Merge Utilities

Gazprom and billionaire Viktor Vekselberg agreed to merge electricity assets, forming a utility that may control 25 percent of the country’s generating capacity. The combined utility will compete on the scale of international companies such as E.On and Electricite de France, Gazprom chief executive Alexei Miller said Thursday at a signing ceremony in Moscow. Vekselberg’s Renova Group, one of the biggest investors in Russia’s power market through […]