YUKOS denies selling of large stake to western corporations

There are no agreements on selling a block of shares in YUKOS currently, the press service of YUKOS said in an official statement in respect to the rumors about the selling of a blocking stake in the Russian oil company to US corporations ExxonMobil and ChevronTexaco. At the same time YUKOS admitted that it constantly negotiated with world leading energy corporations on a broad range of possible business projects, however, currently there were no concrete agreements on selling a large stake in the company.

YUKOS considers the recently emerged rumors as speculative and they contradict the principles of fair business. Since the commenting on rumors contradicts policies of the company, YUKOS will neither confirm nor deny such information in the future, the company said in its statement.

As reported earlier, according to the Wall Street Journal, ChevronTexaco and ExxonMobil will submit proposals on purchasing a blocking stake in YukosSibneft (25 percent plus one share) this week. The starting price might be $11bn.

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Author`s name: Editorial Team