Bloomberg reported yesterday Gazprom's Deputy Chief Executive as saying that E.ON plans to pay for OAO Gazprom's Yuzhno-Russkoye natural gas field by offering Hungarian gas assets. Since E.On has large exposure on the Hungarian energy market (having majority stake in three gas distribution companies, a power station and just finishing the purchase of natural gas wholesale and storage companies from MOL) it is not yet clear what assets E.On plans to sell. Although press speculates that it is likely that E.ON sells the assets recently acquired from MOL, we do not think that the news should have any impact on the share price of the Hungarian company.