Dow Jones E.ON's (EOA.XE) announcement it has reached an agreement with Gazprom (GAZP.RS) over an asset swap, that will grant it a stake in giant gas field Yuzhno Russkoye, is a breakthrough, says Sal.
Oppenheim analyst Stephan Wulf.
The announcement suggests the deal will go ahead after all, following months of uncertainty, he says. However, adds it remains to be seen what assets E.ON has offered Gazprom in return, and how these are valued. Rates stock as buy, with EUR150 fair value. E.ON -0.5% at EUR145.30.