YUKOS comments on deal with Sibneft

YUKOS has not received proposals to sell Sibneft's shares to former principal shareholders of Sibneft, YUKOS CEO Semyon Kukes declared in his open letter to the company's shareholders. "Many rumors have circulated concerning the status of the merger and future of the company including the possibility of a divorce, reversal or other form of a break-up. Despite these rumors, I would like to declare that YUKOS has never received any proposals to sell Sibneft's shares owned by YUKOS from former Sibneft's principal shareholders," the YUKOS press service reported citing the letter.

According to Kukes, the present situation affects the interests of the company, its employees and every shareholder, including minority shareholders. Kukes calls on the company's shareholders, who think that YUKOS's acquisition of Sibneft should not be completed, for submitting concrete proposals on this issue to the Board, since otherwise, the consolidation will be continued.