Gazprom-Media to purchase its shares from Gusinsky

Gazprom's Chief Executive Officer Alexey Miller and General Director ofGazprom-Media Boris Yordan discussed the question on completing a deal onpurchasing shares in Gazprom-Media from Vladimir Gusinsky. During themeeting Yordan said he hoped that the assets would be ready for purchasingbefore January 1, 2003.This term of preparations for the purchase is stipulated by the fact thatmany shares that earlier belonged to Gusinsky are still frozen, Yordanspecified at a meeting with journalists. Yordan also noted that he wasgoing to appeal to the Cheruomushkinsky court of Moscow, which earlier hadrefused to unfreeze the shares, although Gazprom had withdrawn its suiteagainst Gusinsky's Media-Most.Gazprom-Media owns stakes in 23 companies that earlier belonged toMedia-Most, including the NTV television, the NTV-Plus satellitetelevision, the TNT-Teleset television and the publishing house Sem Dney(Seven Days). The cost of these stakes is estimated at about $300m to$500m..

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