Analysts on possible redistribution of shares in Group MENATEP

Group MENATEP that has a key stake in the Russian oil giant YUKOS is unlikely to have new stockholders, analysts with United Financial Group (UFG) said commenting on mass media reports that Group MENATEP was planning to post a new structure of its stockholders next week. The analysts point to restrictions the General Prosecutor's Office imposed on deals with YUKOS stocks after it arrested a large block of stocks in the oil company. The distribution of shares among existing MENATEP stockholders may change however. In particular, this holds true for a special trust that has a 50-percent stake in Group MENATEP. Until his arrest, the only beneficiary of the trust was former YUKOS head Mikhail Khodorkovsky. Analysts with the Zenit bank believe that it is possible that Khodorkovsky may transfer his stake in Group MENATEP (and hence in YUKOS) to another stockholder in exchange for his release from prison.