- Title: RUSSIA: RUSSIAN AUTHORITIES IMPOUND YUKOS SHARES; MARKETS.
- Date: 31st October 2003
- Summary: (W6) MOSCOW, RUSSIA (OCTOBER 30, 2003) (REUTERS - ACCESS ALL) 1. GV/LAS/TILT DOWN: NIGHT VIEW OF YUKOS OIL COMPANY HEADQUARTERS 0.16 2. (SOUNDBITE) (Russian) YUKOS SPOKESMAN ALEXANDER SHADRIN SAYING: "I can confirm that a 44 per cent stake of shares has been seized on the order of the general prosecutor's office that says the stake is seized because it belongs to Mikhail Khodorkovsky. This information is incorrect and false because the impounded stakes belong to two foreign companies - YUKOS Universal and Halley Enterprises. And aside from Mikhail Khodorkovsky and the Menatep group there are other private investors. We regard this as a brutal violation of constitutional and legal rights of third parties that own these shares and we think that these foreign companies will fight this decision in court." 1.16 3. CU/MV/GV: PHOTOS OF MIKHAIL KHODORKOVSKY IN THE YUKOS OFFICE LOBBY (4 SHOTS) 1.31 (W6) MOSCOW, RUSSIA (RECENT - OCTOBER 29, 2003) (REUTERS - ACCESS ALL) 4. GV/TILT/CU: EXTERIOR OF ALFA BANK (2 SHOTS) 1.43 5. MV/CU: VARIOUS OF TRADERS AT DOMESTIC SALES TRADING FLOOR AT RUSSIA'S ALFA BANK (4 SHOTS) 2.06 (W6) MOSCOW, RUSSIA (FILE - JULY 2003) (REUTERS - ACCESS ALL) 6. GV/MV: VARIOUS OF YUKOS CHIEF MIKHAIL KHODORKOVSKY VISITING SUMMER YOUTH CAMP PROJECT SPONSORED BY YUKOS; KHODORKOVSKY ADDRESSING GROUP OF YOUNGSTERS AT CAMP PROJECT (2 SHOTS) 2.29 W6) MOSCOW, RUSSIA (RECENT - OCTOBER 6, 2003) (REUTERS - ACCESS ALL) 7. MCU/GV/MV: YUKOS CHIEF MIKHAIL KHODORKOVSKY AT NEWS BRIEFING AT RUSSIA'S INTERFAX NEWS AGENCY (3 SHOTS) 2.43 (W6) MOSCOW, RUSSIA (OCTOBER 30, 2003) (REUTERS-ACCESS ALL) 8. GV: PRESIDENT PUTIN ENTERING ROOM AND GREETING BUSINESSMEN (2 SHOTS) 3.20 9. (SOUNDBITE) (Russian) RUSSIAN PRESIDENT VLADIMIR PUTIN SAYING: "I'd like to reiterate the point that for us the vigorousness and activity of the Russian economy as a whole depends a lot on the active participation of investors. And this question is under constant control and care of the state power and the government of the Russian Federation." 3.29 10. MV: THE MEETING 3.34 11. (SOUNDBITE) (Russian) PRESIDENT VLADIMIR PUTIN SAYING: "The current legislation of Russia promotes the interest of minority rights' holders with regards to setting forth the charter and the agenda of the meetings of shareholders." 4.04 12. GV: NIGHT VIEW OF THE KREMLIN 4.13 Initials Script is copyright Reuters Limited. All rights reserved
- Embargoed: 15th November 2003 12:00
- Keywords:
- Location: MOSCOW, RUSSIA
- Country: Russia
- Reuters ID: LVA6LXCTVXMC0BPCI48DAV9SHVCG
- Story Text: Russian authorities impound YUKOS shares; markets
and the rouble tumble on the news of the seizure.
Russian authorities on Thursday (October 30) seized
shares in oil major YUKOS belonging to its arrested chief
executive Mikhail Khodorkovsky and his allies in a dramatic
escalation of an investigation into the company's affairs.
"I can confirm that a 44 per cent stake of shares has
been seized, although these shares still retain voting and
dividend rights," YUKOS's spokesman Alexander Shadrin told
Reuters.
Analysts said the 44 per cent stake represents the
largest amount of YUKOs shares held by any one group.
"This information is incorrect and false because the
impounded stakes belong to two foreign companies - YUKOS
Universal and Halley Enterprises. And aside from Mikhail
Khodorkovsky and the Menatep group there are other private
investors. We regard this as a brutal violation of
constitutional and legal rights of third parties that own
these shares and we think that these foreign companies will
fight this decision in court," said YUKOS spokesman.
The impounding of shares in a top private Russian
company appeared to be almost without precedent since the
collapse of the Soviet Union in 1991. The action by Russian
judicial authorities is a dramatic escalation of a
confrontation between the Kremlin and big business.
The YUKOS shares seizure, on Thursday, took place as
Russian President Vladimir Putin met Russian and foreign
investment bankers unnerved by Khodorkovsky's arrest and
concerned over the investment climate.
YUKOS has been the target since early July of legal
a
ction by the Russian justice authorities. Khodorkovsky was
arrested at gunpoint at the weekend and charged on seven
counts of tax evasion and massive fraud.
YUKOS's stock price, which had been in retreat
throughout the day, plunged on the news and shares in other
oil companies also dropped sharply.
YUKOS Universal is itself fully controlled by Group
Menatep, which belongs to Khodorkovsky and key allies,
Platon Lebedev, under the arrest since July, Vasily
Shakhnovsky, charged with tax evasion, and a number of
other businessmen.
Meanwhile Russian President Vladimir Putin met with
investors in the Kremlin, but there was no immediate word
on how he viewed the impounding of YUKOS shares.
"I'd like to reiterate the point that for us the
vigorousness and activity of the Russian economy as a whole
depends a lot on the active participation of investors. And
this question is under constant control and care of the
state power and the government of the Russian Federation,"
Vladimir Putin told businessmen.
Sources close to the meeting had earlier said banking
executives would seek reassurances on the investment
climate in view of legal action against YUKOS.
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