Rompetrol head Dinu Patriciu, one of the richest businessmen in Romania, has said that recent information published by Russian agency Interfax suggesting that the Kazakh company KazMunayGaz wanted to contract a three billion dollars loan to finance the takeover of 75% stake in Rompetrol as announced earlier this year was pure speculation.

Patriciu said in a TV talk-show on Romanian business TV station The Money Channel that everything was set and the transaction would be finalized once the European Commission approves it.

EC officials would pronounce on the transaction by November 20.