Total resumes buying Novatek’s shares

The largest partner of Novatek,the French company Total, swhich topped buying its shares in July 2014 after downing of the Boeing in Donbass, has resumed the redemption of the Russian company’s securities, it bought another 0.4% more. Back in April, the French were not sure of the feasibility of increasing its stake to planned 19.4%. Experts note that it would be difficult for Total to leave the partnership with Novatek without making a loss, in addition, the French received free funds to buy the shares.

France's Total said in a report that at the end of the first six months of the year, 18.64% of the Novatek’s shares belonged to the company that is by 0.4% more than at the end of 2014. Thus, Total renewed buying the shares of Russian oil and gas company, which stopped a year ago. On Wednesday, the value of the package, bought since then, was $117.5 million on the Moscow Stock Exchange, the entire package of Novatek, owned by Total, is valued at $5.5 billion. Yesterday, the quotations of the Russian company increased by 0.21% to 578 rubles per share, GDR on the London Stock Exchange rose in price  2.05% to $100.4 per share.