Experts see positive signs in YUKOS case

RBC, 29.10.2004, Moscow 18:54:48.
YUKOS' advance on the stock market is due to positive signs, which have appeared in the YUKOS case, analysts say. YUKOS gained 10.25 percent on the MICEX exchange by 6:12 p.m. On the RTS exchange it jumped 11.47 percent by this time. Experts believe that the auction on Yuganskneftegaz will unlikely be held in November as there were no official announcements on it. This shows Ronsneft's and Gazprom's interest in buying YUKOS' oil producing subsidiary. But this acquirement will be made after the proposed merger between Gazprom and Rosneft. Analysts believe, that this deal will not be accomplished before 2005 and therefore YUKOS will unlikely be split into pieces. They hope that the beleaguered oil giant will settle claims of overdue taxes for 2000-2001 by this time.
The announcement made by Presidential Assistant Igor Shuvalov may also be the reason for YUKOS' gains on the stock market. Shuvalov expressed his hope that the oil company would recover after repaying back taxes and it the sale of Yuganskneftegaz and other assets would become unnecessary.

(From RBC, 29.10.2004)