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Analysts expect further YUKOS asset sales
RBC, 18.08.2004, Moscow 13:23:26.To pay its tax debts, YUKOS could sell another asset - a 100 percent stake in ZAO Urengoil Inc., Dmitry Mangilev, an analyst at Prospekt Investment Company, told RBC. He was commenting on reports about the sale of YUKOS's 56 percent stake in Rospan International. According to the analyst, YUKOS controls Urengoil Inc. indirectly, as in case with Rospan. If the government tacitly approved the sale of Rospan assets, it could also allow the sale of Urengoil. At the same time, he stressed that the Rospan deal could have been done without the government's approval. "In this case, it will add to YUKOS's conflicts with the government, which will have a negative effect on the company," Mangilev said. In his opinion, the Rospan deal was initiated by TNK-BP, interested in gaining full control of Rospan. For their part, analysts at Veles Capital say the sale of YUKOS's stake in Rospan is an important, positive factor for YUKOS, which will help the oil company settle its tax debts. On the other hand, they note that if the deal was not approved by the government, it could lead to an increase in the pressure on YUKOS.
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