YUKOS head estimates Slavneft's value at $3bn

The value of the Slavneft oil company is about $3bn. Mikhail Khodorkovsky, head of the YUKOS oil company, gave this opinion to reporters today. According to him, given the fact that the value of an oil company producing 70m tons of oil a year is about $15bn, Slavneft, which produces 10m tons a year, could cost $2bn, but taking into account the subsidiaries and liabilities, the value of the company could reach $3bn.

Khodorkovsky declined to comment on whether his company would participate in the privatization of 75% of the shares in Slavneft. As it was reported earlier, the Russian government intended to privatize 75% of the shares in Slavneft before the end of 2002, whereas earlier it was planned to sell just 19.68% of the shares in 2002, and 5.24% were to be sold the following year.

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