Dec. 25 (Bloomberg) -- OAO Gazprom, Russia's biggest company, is set to gain control of OAO OGK-6, the nation's third-largest power generator by capacity, after spending almost 21 billion rubles ($850 million) on new shares.
Gazprom will own a little more than 50 percent in OGK-6 following Unified Energy's breakup after purchasing the 5.5 billion new shares, according to Bloomberg calculations.
Gazprom is poised to dominate two out of the six national wholesale generating companies, or OGKs, being created under reforms to introduce competition and raise investment for the world's fourth-largest power network.
The arrangement gives Gazprom influence over power supplies as far east as Siberia and in cities including Moscow and St. Petersburg, Russia's largest cities. Critics say the market reforms could be undermined by Gazprom's emerging dominance in the power sector.
