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Centrica ‘rockets’ as the Russians are (possibly) coming

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03/02/2006

Shares in Centrica, the owner of British Gas, have jumped 11% following a report that Russia’s Gazprom was about to make a bid.

However, Centrica itself denied that it had been approached and a spokesperson for Gazprom said that the company was merely “studying the possibility of expanding into the British energy market and looking at all the options”.

City analyst Colin Perry said: “These are the sort of rumours that send share prices rocketing up and there’s no denying that Gazprom is on the lookout for Western energy companies.

“Whether this particular deal happens or not is another matter entirely.”

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