14 June 2004 17:12
Russian oil company Yukos may issue new shares to pay off tax debts
[Presenter] The management of Yukos have not ruled out the possibility of issuing new shares to clear their tax
debts, according to the influential British newspaper, the Financial Times, which quotes a representative of the
company's management. The shares may be sold for cash or handed over to the authorities. Other options being
considered by the management include the sale of assets that are currently frozen by court order. The Financial Times
notes that the issue of shares could significantly dilute the stakes held by the current main shareholders, including
[former head of Yukos who is now in prison under investigation on tax evasion and corruption charges] Mikhail
Khodorkovskiy.
It is too early to draw conclusions about the future of the company from this, however, today's article in the
Financial Times is evidence that the matter is coming to an end. This is the opinion of Christopher Granville, a senior
analyst of investment strategy at the United Financial Group investment bank.
[Granville, in Russian] One shouldn't take this article too seriously. However, it does send a signal that the
whole matter is drawing to a conclusion. This is a very important factor for the Russian stock market, for all
investors, both Russian and foreign investors who take part in this market. Of course, the details of the outcome of the
Yukos affair are completely unknown.
[Presenter]Yukos's press-secretary, Aleksandr Shadrin, in an interview with our radio station, said that
comments on the possibility of the deal will be made tomorrow.
[Ekho Moskvy radio] |
RUSSIA IN FACTS
