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EU antitrust authorities and Russia’s Gazprom close to settlement terms

Russia’s state-owned natural gas company OAO Gazprom and the European Union’s antitrust authorities are aiming to agree as soon as the end of October the terms of a settlement that would force changes to the way the company operates, according to people familiar with the matter.

Gazprom OGZD, +0.68% executives, Russian government officials and the European Commission, which is the bloc’s antitrust regulator, are expected to hash out the final details of the agreement in a high-level meeting at the end of the month, one of the people said.

The Russian government, which controls more than 50% of the company’s shares, has been actively involved in the settlement discussions, which are aimed at addressing the EU regulator’s long-running concerns that the energy giant harms competition and charges unfair prices in several Eastern European countries.

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