It is reported that billionaire Mr Oleg Deripaska plans to pay but not use asset swaps to regain 25% of Strabag through an option this year after ceding the stake in the Austrian builder over debt in 2009.

Mr Sergei Babichenko a spokesman for Mr Deripaska’s Basic Element holding said “We plan to exercise the option in accordance with previously reached agreements with our partners. We’re talking about money.”

Mr Babichenko said reports in Austrian and Russian media that Deripaska may swap stakes in Russian construction assets to exercise the option for Strabag shares are incorrect.”

(Sourced from Bloomberg)