Author`s name Pravda.Ru

Yukos shares fall by 5% after bailiffs' visit

After the visit of bailiffs' to the Yukos headquarters, the company's shares fell by 5%.

Bailiffs accompanied by their guards arrived at the Yukos office to inform the company about the initiation of enforcement proceedings following the decision of the Moscow Court of Arbitration to collect 99.4 million rubles (over $3.4 billion) of taxes, fines and penalty fees from the Yukos oil company, Yukos press secretary Alexander Shadrin told RIA Novosti.

The bailiffs told Yukos to make a voluntary payment of 99.4 billion rubles in the next five days, Mr. Shadrin said adding that the bailiffs had already left the company's headquarters.

Before their visit the shares were growing.