Russian conglomerate Gazprom, which spurned Dresdner Bank's offer to buy a stake in its banking subsidiary, has confirmed it will use the German lender to launch a delayed listing of Gazprombank. Dresdner Kleinwort had been tipped as a frontrunner to arrange the float before it was postponed.

Gazprombank's President Alexander Sobol confirmed in an interview with Gazprom's corporate magazine that the German bank would act as bookrunner for the float.