YUKOS may go bankrupt

There is a possibility that YUKOS will be announced bankrupt, analysts with Veles Capital reported to RBC. They explained that some London banks were questioning the syndicated credit granted to YUKOS after the company's 44-percent stake had been frozen by the Russian General Prosecutor's office. Several banks, BNP Paribas, KBC Bank, UFJ Bank and Dresdner, were planning to share the credit but now this agreement is about to fail. The analysts say that banks may demand a return of the credit, and YUKOS will hardly manage to meet its debt obligations since its balance sheet will be nearly zero after the payment of interim dividends. At the same time, the experts admitted this possibility was not that likely, and still they recommended abstaining from purchasing YUKOS shares.

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