The Kazakh KazMunaiGaz has joined Royal Dutch/Shell in the tender for the state's 63% stake in Unipetrol, Dow Jones Newswires reported yesterday. The company declined to officially comment on the issue.
While a creation of consortiums was rather likely before submitting binding bids (by mid-April), recall that KazMunaiGaz submitted the highest indicative bid in the first round of bidding (up to CZK 16bn; Shell offered CZK 13bn) and this may thus be considered as rather positive news for those investors looking towards an obligatory buyout offer.
Jan Hájek, Patria Finance