Yukos
16 mensagens
|Página 1 de 1
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Re: Yukos
rrr Escreveu:Boa tarde, caso estivesse interessado em comprar accoes da yukos como é que o poderia fazer , no bigonline eles nao disponibilizam essa empresa
Já contactou o BIG (apoio@bancobig.pt) ?
Sempre que possivel eles tentam satisfazer os pedidos dos clientes relativamente a titulos que não se econtram disponiveis no site.
YUKOS common stock is traded on the RTS (Russian Trading System) and MICEX (Moscow Interbank Currency Exchange). The Company's ticker symbol is YUKO.
An ADR (American Depositary Receipt) Level 1 program was initiated by YUKOS in March 2001. Each ADR represents 4 YUKOS shares. Level 1 ADRs are traded OTC in the USA and on the following international platforms: Frankfurt, Munich, Stuttgart and Berlin Stock Exchanges, London Stock Exchange International Order Book.
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Russian court rejects Yukos $3.4B tax appeal
11:20am 08/17/04
Russian court rejects Yukos $3.4B tax appeal (YUKOY)
By August Cole
SAN FRANCISCO (CBS.MW) -- Yukos (YUKOY) on Tuesday failed in its latest appeal to keep the Russian government from pursuing $3.4 billion in back taxes, according to the Associated Press. The company has warned that it faces bankruptcy if Moscow pursues the taxes that are claimed owed. Russian media reported that an arbitration court ruled that it would let bailiffs go after the funds, which Yukos says it does not have. In New York, September crude rose 15 cents at $46.20 a barrel.
Russian court rejects Yukos $3.4B tax appeal (YUKOY)
By August Cole
SAN FRANCISCO (CBS.MW) -- Yukos (YUKOY) on Tuesday failed in its latest appeal to keep the Russian government from pursuing $3.4 billion in back taxes, according to the Associated Press. The company has warned that it faces bankruptcy if Moscow pursues the taxes that are claimed owed. Russian media reported that an arbitration court ruled that it would let bailiffs go after the funds, which Yukos says it does not have. In New York, September crude rose 15 cents at $46.20 a barrel.
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Não será melhor comprar (REDITUS) que está a dois passos do «PSI20» e quetal?Yukos Official Denies Talk of Imminent Bankruptcy
The New York Times
Yukos Official Denies Talk of Imminent Bankruptcy
By ERIN E. ARVEDLUND
Published: August 17, 2004
MOSCOW, Aug. 16 - A top Yukos executive said on Monday that the company should be able to produce and sell oil at least until the end of September.
"I don't expect the company to have any problems producing, refining and selling oil until the end of September," the chairman of Yukos, Viktor V. Gerashchenko, told the Reuters news agency.
"The company will avoid bankruptcy for as long as possible," he said.
His remarks contradicted earlier comments from the chief financial officer of Yukos, Bruce K. Misamore, who told The Financial Times that the company might be forced to file for bankruptcy within days. "If we are insolvent because we do not have the cash to pay our bills, we have to declare bankruptcy,'' Mr. Misamore was quoted on Monday as saying. "I think it is very likely.''
Yukos is struggling to pay a $3.4 billion tax bill, and court bailiffs are starting to take money directly from its bank accounts, raising fears that it may run out of money to finance daily operations and have to stop pumping oil.
But a spokesman for Yukos, Hugo Erikssen, said on Monday that there had been no significant change in the company's cash position.
He said that neither Mr. Misamore nor Mr. Gerashchenko were available to comment.
Yukos and its controlling shareholder and founder, Mikhail B. Khodorkovsky, are facing a broad attack from Russian prosecutors and the tax authorities.
Mr. Khodorkovsky faces criminal charges of tax evasion, fraud and embezzlement, and the back tax bills of Yukos could balloon to as much as $10 billion.
If Yukos were to file for bankruptcy, the government would have first rights to the company's property. But Group Menatep, Mr. Khodorkovsky's investment holding company through which he holds his controlling stake in Yukos, has a $1.6 billion loan outstanding to Yukos.
Calling in the debt early would put the Group Menatep shareholders - the company's founders, all of them are either in jail or self-imposed exile - second behind the government in bankruptcy proceedings.
Under Russian bankruptcy law, however, a court reviews grounds for bankruptcy and accepts or rejects a filing. Were Yukos's bankruptcy to be accepted, the company would come under a "state of supervision," which could last for months, industry analysts estimate.
Under a state of supervision, a Russian company is shielded from creditors, asset seizures are halted and any assets already seized are released. Yukos would be allowed to issue shares and increase its equity capital to meet obligations. A temporary manager would carry out a financial analysis of the company, determine the size of its liabilities, draw up a list of creditors and organize the first creditor meeting.
"If this was to happen, Group Menatep would technically have voting control at the meeting," according to a local brokerage firm, Troika Dialog, in a note on Monday to clients, and thus Mr. Khodorkovsky's investment company could therefore end up steering the bankruptcy process.
Yukos Official Denies Talk of Imminent Bankruptcy
By ERIN E. ARVEDLUND
Published: August 17, 2004
MOSCOW, Aug. 16 - A top Yukos executive said on Monday that the company should be able to produce and sell oil at least until the end of September.
"I don't expect the company to have any problems producing, refining and selling oil until the end of September," the chairman of Yukos, Viktor V. Gerashchenko, told the Reuters news agency.
"The company will avoid bankruptcy for as long as possible," he said.
His remarks contradicted earlier comments from the chief financial officer of Yukos, Bruce K. Misamore, who told The Financial Times that the company might be forced to file for bankruptcy within days. "If we are insolvent because we do not have the cash to pay our bills, we have to declare bankruptcy,'' Mr. Misamore was quoted on Monday as saying. "I think it is very likely.''
Yukos is struggling to pay a $3.4 billion tax bill, and court bailiffs are starting to take money directly from its bank accounts, raising fears that it may run out of money to finance daily operations and have to stop pumping oil.
But a spokesman for Yukos, Hugo Erikssen, said on Monday that there had been no significant change in the company's cash position.
He said that neither Mr. Misamore nor Mr. Gerashchenko were available to comment.
Yukos and its controlling shareholder and founder, Mikhail B. Khodorkovsky, are facing a broad attack from Russian prosecutors and the tax authorities.
Mr. Khodorkovsky faces criminal charges of tax evasion, fraud and embezzlement, and the back tax bills of Yukos could balloon to as much as $10 billion.
If Yukos were to file for bankruptcy, the government would have first rights to the company's property. But Group Menatep, Mr. Khodorkovsky's investment holding company through which he holds his controlling stake in Yukos, has a $1.6 billion loan outstanding to Yukos.
Calling in the debt early would put the Group Menatep shareholders - the company's founders, all of them are either in jail or self-imposed exile - second behind the government in bankruptcy proceedings.
Under Russian bankruptcy law, however, a court reviews grounds for bankruptcy and accepts or rejects a filing. Were Yukos's bankruptcy to be accepted, the company would come under a "state of supervision," which could last for months, industry analysts estimate.
Under a state of supervision, a Russian company is shielded from creditors, asset seizures are halted and any assets already seized are released. Yukos would be allowed to issue shares and increase its equity capital to meet obligations. A temporary manager would carry out a financial analysis of the company, determine the size of its liabilities, draw up a list of creditors and organize the first creditor meeting.
"If this was to happen, Group Menatep would technically have voting control at the meeting," according to a local brokerage firm, Troika Dialog, in a note on Monday to clients, and thus Mr. Khodorkovsky's investment company could therefore end up steering the bankruptcy process.
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Yukos warns it may declare bankruptcy
By Andrew Jack in Moscow
Last Update:4:15 PM ET Aug. 15, 2004
Yukos, the Russian oil group, might file for bankruptcy in the next few days unless the authorities reduce the pressure they have been applying, its chief financial officer warned on Sunday.
In an interview with the FT at a time of growing brinkmanship between the company and the government, Bruce Misamore said: "If we are insolvent because we do not have the cash to pay our bills, we have to declare bankruptcy. I think it is very likely. Bankruptcy is not a bad scenario, assuming everything is done in accordance with the law."
Mr Misamore said the authorities were now taking about half the group's monthly $1.8bn in cashflow through freezing and collection orders on Yukos company and related bank accounts. "All the cash is being swept up. We can't survive," he said.
The recent rise in oil prices which dealers partly attribute to the uncertainties around Yukos had provided it with "a few extra days" of cash, but would make little difference to its situation, and there would be insufficient cash by the "middle" of this month.
Mr Misamore said the creditor banks to Yukos had already begun exercising their right to seize money after formally warning the company that they considered their loans in default, extracting $40m so far, and with the likelihood that figure would at least double in the coming weeks.
He said the Yukos management committee was meeting this week to review planned cuts in capital and operating budgets, which he warned "could very well affect oil production".
Mr Misamore said the result was likely to be a reduction in planned growth targets rather than an absolute decline in oil output, but that no agreement had yet been made with the state railways and pipeline operator beyond the end of August, after which the company's ability to export could be reduced.
No Yukos board meeting is scheduled but he said there were regular telephone conversations with directors and that the managers would seek board approval on any recommendation to file for bankruptcy.
He highlighted ways the authorities could ease the pressure on Yukos, including refunding up to $1.7bn in value added tax, a release of freezing orders or a change in court restrictions forbidding it from raising new funds through asset sales.
He said there had been significant contact with government officials over the past two weeks, with Yukos seeking a deferment in its tax bills, but there had been no meaningful response.
Last Update:4:15 PM ET Aug. 15, 2004
Yukos, the Russian oil group, might file for bankruptcy in the next few days unless the authorities reduce the pressure they have been applying, its chief financial officer warned on Sunday.
In an interview with the FT at a time of growing brinkmanship between the company and the government, Bruce Misamore said: "If we are insolvent because we do not have the cash to pay our bills, we have to declare bankruptcy. I think it is very likely. Bankruptcy is not a bad scenario, assuming everything is done in accordance with the law."
Mr Misamore said the authorities were now taking about half the group's monthly $1.8bn in cashflow through freezing and collection orders on Yukos company and related bank accounts. "All the cash is being swept up. We can't survive," he said.
The recent rise in oil prices which dealers partly attribute to the uncertainties around Yukos had provided it with "a few extra days" of cash, but would make little difference to its situation, and there would be insufficient cash by the "middle" of this month.
Mr Misamore said the creditor banks to Yukos had already begun exercising their right to seize money after formally warning the company that they considered their loans in default, extracting $40m so far, and with the likelihood that figure would at least double in the coming weeks.
He said the Yukos management committee was meeting this week to review planned cuts in capital and operating budgets, which he warned "could very well affect oil production".
Mr Misamore said the result was likely to be a reduction in planned growth targets rather than an absolute decline in oil output, but that no agreement had yet been made with the state railways and pipeline operator beyond the end of August, after which the company's ability to export could be reduced.
No Yukos board meeting is scheduled but he said there were regular telephone conversations with directors and that the managers would seek board approval on any recommendation to file for bankruptcy.
He highlighted ways the authorities could ease the pressure on Yukos, including refunding up to $1.7bn in value added tax, a release of freezing orders or a change in court restrictions forbidding it from raising new funds through asset sales.
He said there had been significant contact with government officials over the past two weeks, with Yukos seeking a deferment in its tax bills, but there had been no meaningful response.
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Anonymous Escreveu:Duvido muito ke a yukos va a falençia, pois e uma das peças fundamentais na economia russa... Eles iram arranjar maneira de por em pe de novo nem que seja vender ao Abramovhic
...então não podem abrir a mesma com outro nome e «lixarem» os acionistas picolos?...
R. Martins
Quem não conhece o «CALDEIRÃO» não conhece este mundo
- Mensagens: 1611
- Registado: 5/11/2002 9:23
What's Russian for high risk?
Monday, July 5
MATHEW INGRAM
Globe and Mail Update
The federal government has handed it a bill for $3.4-billion (U.S.) in unpaid taxes and says it must pay by Wednesday or its assets will be seized. It is also in default on more than $1-billion in loans to other creditors, who could push the company into bankruptcy. Best of all, its chief executive officer sits in a jail cell, and is on trial for a laundry list of crimes against the state. And what does Merrill Lynch call this train wreck of a company? A buy. A high-risk one, but a buy nevertheless.
Russia's Yukos Corp. has to be one of the most bizarre business stories of the past several years, if not the decade. One of the world's largest producers of crude oil, with an output just slightly greater than Libya, the company is largely the creation of Mikhail Khodorkovsky, one of a new generation of Russian billionaire entrepeneurs that built their business empires from the wreckage of the former Soviet economy. Now, Mr. Khodorkovsky is in prison and on trial — a victim, some say, of Russian president Vladimir Putin's ruthless attempts to rub out one of his fiercest critics.
Just last year, Yukos was poised to become an even larger force in the global energy market, with the $35-billion takeover of its main competitor, Sibneft. Then the government suddenly froze the company's bank accounts and charged two senior executives — Khodorkovsky and his right-hand man, Platon Lebedev — with fraud and tax evasion. Russian authorities said the company had evaded more than $7-billion in taxes, and ordered it to repay that sum in two instalments. The first payment of $3.4-billion or so is due this Wednesday.
Since Yukos has no control over its bank accounts, however, the company says there is no way for it to sell assets or find other ways of meeting the government's request, and has said it may have to file for bankruptcy. Some critics have speculated that this is exactly what the Russian president wants, despite the fact that Mr. Putin specifically said last month it is "not in the interests of the state for Yukos to go bankrupt." This is undoubtedly true; many observers have noted that the failure of one of the country's largest corporations under government pressure wouldn't exactly enhance Russia's reputation in the international community.
So why does Merrill Lynch seem to think Yukos is a buy, despite all the turmoil and the prospect of imminent bankruptcy? In effect, the brokerage firm's analyst, Anatoli Kaminov, believes that Mr. Putin does not want to bankrupt the company, despite all the pressure his government has put Yukos under. According to Merrill, what Mr. Putin wants is to neutralize Mr. Khodorkovsky and the other controlling shareholders of Yukos, who exercise their control through a voting group known as Menatep. Provided that can be accomplished without resorting to bankruptcy, Merrill says the stock is significantly undervalued.
Shares of Yukos, which are traded in the United States as ADRs (American Depositary Receipts) have fallen by more than 60 per cent over the past eight months to a recent low of $27.75, from a peak of more than $75 in October. According to Merrill, the shares are worth as much as $36 each based on a number of different scenarios for dealing with the Russian government. "We believe that Yukos is not at risk as a going concern," the firm's report says, "even if the company is put under temporary administration."
Merrill says that is Mr. Putin wants to neutralize Mr. Khodorkovsky and his senior executives, there are several ways he could accomplish that goal. The former Yukos CEO and the Menatep group could be found guilty of tax evasion and fraud, and the government could seize their stake in the company; the company could be forced to issue new shares, diluting the Menatep stake (and possibly giving the government a "golden share" or special control stake); and the company could pledge the Menatep shares as collateral for the tax debt, which would effectively give the government control over the company.
In each of these cases, Merrill says the company could emerge relatively unscathed and profitable, with cash flows that justify a $36 share price. Although they may not have a "buy" rating on the stock, other brokerage firms also see a light at the end of the tunnel for Yukos, if not for Mr. Khodorkovsky and his associates. Morgan Stanley analyst Craig Kennedy says there is a chance that instead of pushing the company into bankruptcy, the government will instead accept its controlling stake in Sibneft as payment for the tax debt. If that were to happen, the Morgan analyst says Yukos would still be worth investing in because of its size and profitability.
This rosy view of Yukos's fate is hardly unanimous. Several brokerage firms, including Renaissance Capital, say the chances that the company will be forced into bankruptcy are above 50 per cent and rising with each passing day, particularly with announcements such as the one that came out on Monday — in which lender Societe Generale said Yukos was in default of a $1-billion loan agreement. But Merrill and others believe that the risk is worth taking . Whether they are right or not is something only Mr. Putin can say.
http://sympatico.globeandmail.com/servlet/story/RTGAM.20040705.wmathlater0705/business/Business/businessBN/sympatico-business
MATHEW INGRAM
Globe and Mail Update
The federal government has handed it a bill for $3.4-billion (U.S.) in unpaid taxes and says it must pay by Wednesday or its assets will be seized. It is also in default on more than $1-billion in loans to other creditors, who could push the company into bankruptcy. Best of all, its chief executive officer sits in a jail cell, and is on trial for a laundry list of crimes against the state. And what does Merrill Lynch call this train wreck of a company? A buy. A high-risk one, but a buy nevertheless.
Russia's Yukos Corp. has to be one of the most bizarre business stories of the past several years, if not the decade. One of the world's largest producers of crude oil, with an output just slightly greater than Libya, the company is largely the creation of Mikhail Khodorkovsky, one of a new generation of Russian billionaire entrepeneurs that built their business empires from the wreckage of the former Soviet economy. Now, Mr. Khodorkovsky is in prison and on trial — a victim, some say, of Russian president Vladimir Putin's ruthless attempts to rub out one of his fiercest critics.
Just last year, Yukos was poised to become an even larger force in the global energy market, with the $35-billion takeover of its main competitor, Sibneft. Then the government suddenly froze the company's bank accounts and charged two senior executives — Khodorkovsky and his right-hand man, Platon Lebedev — with fraud and tax evasion. Russian authorities said the company had evaded more than $7-billion in taxes, and ordered it to repay that sum in two instalments. The first payment of $3.4-billion or so is due this Wednesday.
Since Yukos has no control over its bank accounts, however, the company says there is no way for it to sell assets or find other ways of meeting the government's request, and has said it may have to file for bankruptcy. Some critics have speculated that this is exactly what the Russian president wants, despite the fact that Mr. Putin specifically said last month it is "not in the interests of the state for Yukos to go bankrupt." This is undoubtedly true; many observers have noted that the failure of one of the country's largest corporations under government pressure wouldn't exactly enhance Russia's reputation in the international community.
So why does Merrill Lynch seem to think Yukos is a buy, despite all the turmoil and the prospect of imminent bankruptcy? In effect, the brokerage firm's analyst, Anatoli Kaminov, believes that Mr. Putin does not want to bankrupt the company, despite all the pressure his government has put Yukos under. According to Merrill, what Mr. Putin wants is to neutralize Mr. Khodorkovsky and the other controlling shareholders of Yukos, who exercise their control through a voting group known as Menatep. Provided that can be accomplished without resorting to bankruptcy, Merrill says the stock is significantly undervalued.
Shares of Yukos, which are traded in the United States as ADRs (American Depositary Receipts) have fallen by more than 60 per cent over the past eight months to a recent low of $27.75, from a peak of more than $75 in October. According to Merrill, the shares are worth as much as $36 each based on a number of different scenarios for dealing with the Russian government. "We believe that Yukos is not at risk as a going concern," the firm's report says, "even if the company is put under temporary administration."
Merrill says that is Mr. Putin wants to neutralize Mr. Khodorkovsky and his senior executives, there are several ways he could accomplish that goal. The former Yukos CEO and the Menatep group could be found guilty of tax evasion and fraud, and the government could seize their stake in the company; the company could be forced to issue new shares, diluting the Menatep stake (and possibly giving the government a "golden share" or special control stake); and the company could pledge the Menatep shares as collateral for the tax debt, which would effectively give the government control over the company.
In each of these cases, Merrill says the company could emerge relatively unscathed and profitable, with cash flows that justify a $36 share price. Although they may not have a "buy" rating on the stock, other brokerage firms also see a light at the end of the tunnel for Yukos, if not for Mr. Khodorkovsky and his associates. Morgan Stanley analyst Craig Kennedy says there is a chance that instead of pushing the company into bankruptcy, the government will instead accept its controlling stake in Sibneft as payment for the tax debt. If that were to happen, the Morgan analyst says Yukos would still be worth investing in because of its size and profitability.
This rosy view of Yukos's fate is hardly unanimous. Several brokerage firms, including Renaissance Capital, say the chances that the company will be forced into bankruptcy are above 50 per cent and rising with each passing day, particularly with announcements such as the one that came out on Monday — in which lender Societe Generale said Yukos was in default of a $1-billion loan agreement. But Merrill and others believe that the risk is worth taking . Whether they are right or not is something only Mr. Putin can say.
http://sympatico.globeandmail.com/servlet/story/RTGAM.20040705.wmathlater0705/business/Business/businessBN/sympatico-business
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Yukos Shares Bounce Back; Western Bank to Mediate
August 13, 2004 6:55PM
Shares in Yukos, the troubled Russian oil company, gained more than 18 percent Friday after the Russian government agreed to let a Dresdner Bank subsidiary determine the value of Yukos' main oil-producing unit. The move was seen as a signal the government will not re-nationalize Russia's oil.
Investors See New Hope for Yukos, Russia Oil after Dresdner Move
Investors breathed a sigh of relief Friday after a Western bank was asked to mediate the Yukos oil saga in a sign many here saw as a Kremlin decision not to re-nationalize Russia's oil.
A justice ministry decision to allow a Dresdner Bank subsidiary to determine the value of Yukos's main oil-producing unit means the company will likely have a far-higher valuation than one proposed by the state, which could still keep alive Russia's largest oil producer.
The decision came Thursday after top U.S. officials piled pressure on President Vladimir Putin's administration to come clean about what it planned to do with Yukos amid fears that oil exports from the world's number two producing nation could be disrupted.
China -- whose energy-starved northern regions rely heavily on Yukos -- has done the same, according a Wall Street Journal report.
Yukos produces about 1.7 million barrels of oil per day -- nearly as much as the current maximum output of Iraq.
The year-long conflict surrounding Yukos is now focused on its unit Yugansk, which pumps 60 percent of the group's oil, and how and to whom it will be sold off.
Yugansk has been confiscated by the state to pay off a 3.4-billion-dollar (2.78-billion-euro) tax bill that could grow to 10 billion dollars in the coming weeks.
Yukos founders are trying to save its prized assets -- or access to its oil exports -- through complicated business procedures, but the general mood here is that Yugansk will be sold.
But most have written off Yukos as an entity in its current titanic form and are instead focused on Putin's future economic policies, seeing the affair as a test case.
Yugansk was valued at 1.7 billion dollars by court bailiffs and at up to 30 billion dollars by the company itself and some Western analysts.
Many here feared that Yugansk would be priced low and sold off at a bargain-basement sum to a state-linked oil company -- a move that would suggest that Russia was turning back on post-Soviet reforms.
Analysts agree the valuation by Dresdner Kleinwort Wasserstein, the international investment bank unit of German bank Dresdner, is likely to be closer to the figure mentioned by Yukos.
This makes it far more difficult for the state to peddle off Yugansk to a government-linked company in a move which many fear would represent the re-nationalization of key private assets.
"With all due respect to the ministry of justice, the appointment of a major international investment house to value Yugansk does not look like something the ministry would undertake on its own initiative," Renaissance Capital said in a research note.
"In our view, the political leadership has sent a clear signal that it is willing to limit the damage both to the investment climate and to minority shareholders in the Yukos affair."
Yukos stock gained more than 18 percent after the news broke Thursday and the stock closed at a weeks-long high of 4.3 dollars Friday on the dollar-denominated RTS exchange.
Western analysts are reading this as confirmation, no matter how weak, that Putin was not going back on privatization.
"This fear, i.e., that assets could be 'stolen' by the state, leaving little or no value remaining in Yukos, has been the main depressant on equity market sentiment since the start," said Chris Weafer of Alfa Bank.
Renaissance Capital said it was now clear "that another Yukos affair is highly unlikely, so there is no systematic risk to the market."
http://cio-today.newsfactor.com/story.xhtml?story_title=Yukos-Shares-Bounce-Back--Western-Bank-to-Mediate&story_id=26341&category=ciobusbrf
Shares in Yukos, the troubled Russian oil company, gained more than 18 percent Friday after the Russian government agreed to let a Dresdner Bank subsidiary determine the value of Yukos' main oil-producing unit. The move was seen as a signal the government will not re-nationalize Russia's oil.
Investors See New Hope for Yukos, Russia Oil after Dresdner Move
Investors breathed a sigh of relief Friday after a Western bank was asked to mediate the Yukos oil saga in a sign many here saw as a Kremlin decision not to re-nationalize Russia's oil.
A justice ministry decision to allow a Dresdner Bank subsidiary to determine the value of Yukos's main oil-producing unit means the company will likely have a far-higher valuation than one proposed by the state, which could still keep alive Russia's largest oil producer.
The decision came Thursday after top U.S. officials piled pressure on President Vladimir Putin's administration to come clean about what it planned to do with Yukos amid fears that oil exports from the world's number two producing nation could be disrupted.
China -- whose energy-starved northern regions rely heavily on Yukos -- has done the same, according a Wall Street Journal report.
Yukos produces about 1.7 million barrels of oil per day -- nearly as much as the current maximum output of Iraq.
The year-long conflict surrounding Yukos is now focused on its unit Yugansk, which pumps 60 percent of the group's oil, and how and to whom it will be sold off.
Yugansk has been confiscated by the state to pay off a 3.4-billion-dollar (2.78-billion-euro) tax bill that could grow to 10 billion dollars in the coming weeks.
Yukos founders are trying to save its prized assets -- or access to its oil exports -- through complicated business procedures, but the general mood here is that Yugansk will be sold.
But most have written off Yukos as an entity in its current titanic form and are instead focused on Putin's future economic policies, seeing the affair as a test case.
Yugansk was valued at 1.7 billion dollars by court bailiffs and at up to 30 billion dollars by the company itself and some Western analysts.
Many here feared that Yugansk would be priced low and sold off at a bargain-basement sum to a state-linked oil company -- a move that would suggest that Russia was turning back on post-Soviet reforms.
Analysts agree the valuation by Dresdner Kleinwort Wasserstein, the international investment bank unit of German bank Dresdner, is likely to be closer to the figure mentioned by Yukos.
This makes it far more difficult for the state to peddle off Yugansk to a government-linked company in a move which many fear would represent the re-nationalization of key private assets.
"With all due respect to the ministry of justice, the appointment of a major international investment house to value Yugansk does not look like something the ministry would undertake on its own initiative," Renaissance Capital said in a research note.
"In our view, the political leadership has sent a clear signal that it is willing to limit the damage both to the investment climate and to minority shareholders in the Yukos affair."
Yukos stock gained more than 18 percent after the news broke Thursday and the stock closed at a weeks-long high of 4.3 dollars Friday on the dollar-denominated RTS exchange.
Western analysts are reading this as confirmation, no matter how weak, that Putin was not going back on privatization.
"This fear, i.e., that assets could be 'stolen' by the state, leaving little or no value remaining in Yukos, has been the main depressant on equity market sentiment since the start," said Chris Weafer of Alfa Bank.
Renaissance Capital said it was now clear "that another Yukos affair is highly unlikely, so there is no systematic risk to the market."
http://cio-today.newsfactor.com/story.xhtml?story_title=Yukos-Shares-Bounce-Back--Western-Bank-to-Mediate&story_id=26341&category=ciobusbrf
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
nunofaustino Escreveu:Com a hipótese de falência que paira sobre a yukos, nem o petróleo a 100 a conseguia levar para cima...
Um abraço
Nunofaustino
Boa observação, caro Nuno...
O gráfico deixa água na boca a que os optimistas poderão dizer: As estes niveis é negócio certo!
Mas tambem é verdade: E a falência?...
Pode belamente suceder...
Abraço
R. Martins
Quem não conhece o «CALDEIRÃO» não conhece este mundo
- Mensagens: 1611
- Registado: 5/11/2002 9:23
Yukos
Com petroleo a 50 dolares é isto.
E se o petroleo estivesse a 23 dolares?
R, Martins
E se o petroleo estivesse a 23 dolares?
R, Martins
- Anexos
-
- Yukos 1 mes.gif (4.65 KiB) Visualizado 874 vezes
-
- Yukos 1ano.gif (7.92 KiB) Visualizado 878 vezes
Quem não conhece o «CALDEIRÃO» não conhece este mundo
- Mensagens: 1611
- Registado: 5/11/2002 9:23
16 mensagens
|Página 1 de 1
Quem está ligado:
Utilizadores a ver este Fórum: aaugustobb_69, boavista, cmsbarros, dragom, drcentimo, latbal, m-m, malakas, MP65, OCTAMA, PacoNasssa, Phil2014, trilhos2006 e 231 visitantes