Posted on 08/30/2004 8:43:13 PM PDT by RussianConservative
MOSCOW - YUKOS oil company is to remain an integral, operable company and a traded security. The respective statement was made by the representatives of Russia's Federal Finance Markets Service over the meeting with representatives of the capital companies - members of the YUKOS minors' committee held by order to the RF Government, sources with the Federal Finance Markets Service told AK&M.
Representatives of Prosperity Capital Management, Atria Advisors, VR Capital Group took part in the said meeting.
During the meeting, reps. of the Federal Finance Markets Service said any actions of the authorities to make YUKOS settle back taxes are to be carried out to maximally preserve the integrity of the company's production complex and to ensure its operability. Disposal of the assets, non-core for production complex of YUKOS, could be regarded as one of the variants.
In view of the above, it is necessary to endeavor so that the tax debt would be paid with minimal losses for the holders as YUKOS stocks are the blue chips of Russian stock market and its possible bankruptcy will negatively affect the market.
Does this mean we will see oil prices fall even more?
most likely.
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