Russia » Economics

Concerns over "Yukos" & "Sibneft"

RIA “Novosti” reports that Prime-Minister of the Russian Federation Mikhail Kasyanov excludes a possibility of nationalization of “Yukos". “I think that such possibility does not exist,” reported Kasyanov in his interview on Saturday.

In his speech regarding a “Yukos”—“Sibneft” merger suspension, M. Kasyanov has noted that “it all happened without any government's intervention.” According to the Prime-Minister, the merger was put on hold as a result of a tedious deliberation process between shareholders who possess their own personal motives, reports RBK.

Kasyanov thinks that such decision should be interpreted by major markets from shareholders’ perspectives. Allegations concerning possible law enforcement pressing, should not influence potential investors. “I am not inclined to believe that this was done under a strong law enforcement pressing. This has been a deliberate action of private shareholders,” said Kasyanov.
 
In the meantime, while sharing some of the main points of his phone conversation with the head of “Sibneft” Evgeny Shvidler, “Yukos” shareholder Leonid Nevzlin has stated that “Sibneft” has put the merger on hold as a result of an order from the President’s administration. 
  
Semen Kukes of “Yukos” has announced that the merger with “Sibneft” remains an ongoing process. At the same time, “Yukos”’ shareholder meeting has not yet appointed a new board of directors for the emerging company “YukosSibneft.” “Yukos”’ shareholders have consolidated transient dividends nine months ahead. The sum is equivalent to $2bln. One regular share will cost 26,78 rubles (0,89 USD).   

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