Gazprom will reportedly divest its ownership in two Lithuanian gas distribution firms following Lithuania’s record-setting competition fine imposed on the Russian fuel giant.
According to reports, Russia and Lithuania had sparred in recent years over the implementation of EU rules aimed to distance gas supplies from the ownership of distribution. Lithuania announced Wednesday it issued a $48.2 million fine against Gazprom for anticompetitive behavior after finding evidence the Russian company squeezed rival suppliers out of the market.
It was the largest fine Lithuanian competition regulators have ever imposed.
Now, Lithuania announced Thursday that Gazprom is selling its 37.1 percent shares in Amber Grid and Lietuvos Dujos, a move encouraged by Lithuania.
According to reports, the companies were sold to two state-owned groups totaling a $191.7 million transaction.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI