Russia to Sell Big Yukos Unit at Low-End Price
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The Russian government said on Tuesday that it would sell part of the oil giant Yukos&#39;s most valuable subsidiary by the end of November, but at a price well below what investors and analysts consider its worth.
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Assets of Russia's beleaguered Yukos oil company should be sold for at least &#36;15 billion, a senior official said Monday, as the company's main production unit is evaluated for sale against a crushing back-tax bill.
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Russia's justice ministry announced plans to sell a part of the Yukos oil giant to cover the company's outstanding back taxes.
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MOSCOW, NOVEMBER 19: Russia pressed ahead on Friday with the last step in the destruction of embattled oil major Yukos, saying it will auction its main Siberian unit on December 19 at a starting price of $8.65 billion.
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NEW YORK, December 22  - Russiaâs gas giant, Gazprom (GAZ.FSE), said yesterday that it had sold the holding structure that took part in the sale of Yukoâs main production unit two days before the auction, in a move aimed at avoiding
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order which seeks to  halt Sunday's auction for at least 10 days.
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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MOSCOW -- Russian tax authorities on Friday scheduled the equivalent of a fire sale at what was once the nation&#39;s largest oil company, offering the main production facility at Yukos Oil for auction next month at a fraction of its value.
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MOSCOW The Russian Justice Ministry said on Tuesday that it had decided to go ahead with the sale of parts of the oil company Yukos to cover billions in taxes owed by the company.
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The Russian Justice Ministry will sell part of the Yukos oil company&#39;s assets to cover its back taxes,the Interfax news agency reported Tuesday.
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order that seeks to halt  Sunday's auction for at least 10 days.
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Description: The Russian government announces the sale of many of the most valuable portions of the oil company Yukos, the firm built by embattled tycoon Mikhail Khodorkovsky.
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Yukos&#39; main production unit, Yuganskneftegaz, could be sold off in a single-bid, closed auction in just over a month&#39;s time, a spokesman for the Federal Property Fund said Monday.
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The Russian government plans to sell a majority stake in the main production unit of oil giant OAO Yukos at an auction on December 19.
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Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company YUKOS  despite a U.S. bankruptcy court decision to block it for several days.
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Russia appears ready to sell the main asset of Yukos, the country&#39;s embattled oil company, for $4 billion, a fraction of its worth, reports say.
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Russia's justice ministry announced plans to sell a part of the Yukos oil giant to cover the company's outstanding back taxes, officials said.