Group MENATEP to resist selling YUKOS assets

Group MENATEP, the main shareholder in YUKOS, is going to take all possible legal measures to block a forced selling of YUKOS' assets and the seizure of the company, the group said in a statement. According to the document, Group MENATEP is against YUKOS' bankruptcy and has always advocated the soonest settlement of the conflict around YUKOS. All actions of Group MENATEP target the protection of both minority and majority shareholders in YUKOS. Main "uncertainties" in the YUKOS case are being created by some representatives of Russian authorities that cannot or do not want to cooperate with YUKOS shareholders, the document underlines.

As reported earlier, previously Russian Finance Minister Alexey Kudrin declared that these were majority shareholders in the company who brought uncertainties in the situation around YUKOS. He pointed out that the Russian President had confirmed twice that the government was not interested in YUKOS' bankruptcy.