Yukos offers Putin negotiations over Yugansk sale

0 Comments | AFP, November, 2004

MOSCOW (AFP) — Menatep, the chief shareholder in Russian oil giant Yukos, said it has proposed to President Vladimir Putin negotiations over the potential auction of Yukos' main production unit to pay back taxes.

The group, which holds more than 60 percent of Yukos's shares, said in a statement that the Kremlin had so far refused to enter talks on a potential sale of Yuganskneftegas, the auction of which has been set for December 19.

"Group Menatep, the main shareholder of Yukos, has proposed to the Russian government an offer to hold negotiations over the planned sale of Yuganskneftegas," Tim Osborne, the group's acting director, said in a statement.

"Yuganskneftegas might be sold for a sum far lower than its actual price," he said.

"We have sent a...