Source Pravda.Ru

Gazprom files a claim against Media-Most again. It recovers from Media-Most 19% of NTV shares

Gazprom-Media, a daughter company of the gas monopoly Gazprom, has filed a claim with the Moscow arbitration court to recover from Media-Most holding company 19 per cent of NTV television company shares. The claim has been accepted. The gas company decided to use its right to demand shares from NTV television company through court after Media-Most failed to honour a three-way agreement on debt settlement with Gazprom of November 17 and a two-way agreement between Gazprom-Media and Deutsche Bank of December 28, 2000. It recalled that Media-Most did not hand NTV shares to Deutsche Bank, as stipulated in the agreement, RIA Novosti reports. "Now Gazprom-Media, under the three-way November agreement, has the right to claim 19 per cent of NTV shares placed as collateral with Gazprom against the 262 million dollar debt," the company's press-service explained. Gazprom-Media, if a court award is positive, does not rule out that it may sell these shares to western investors.