There is competition in Russia for Enel's assets. Yesterday Rosneft announced an agreement to buy 40% of Arctic Russia from the Italian company, which would give the oil giant a 19,6% indirect stake in SeverEnergia. 51% of this consortium, however, is controlled by a joint venture between Gazprom Neft and Novatek and the two companies are allegedly in talks to snatch the deal with Enel from Rosneft.
Gennady Timchenko, shareholder of Novatek, revealed that his company and Gazprom Neft are negotiating the purchase of the share: "Based on what I saw in Rosneft's note - he said, as reported by the Prime agency -, there are some suspensive conditions.
Eni also holds an indirect stake in SeverEnergia, which manages assets in the Yamal-Nenets autonomous region in northern Russia. Meanwhile, Equita confirms the "buy" recommendation for Enel and raises the target price by 10% to 3,3 euros. This morning in Piazza Affari the company's stock is up by about half a point.
