The holders repeatedly said they would cede their blocks to save the company-and there is no lack of bidders.
The Menatep may sell its Yukos block quite soon, Victor Geraschenko, Yukos Directors' Board president, said last Sunday. "The Menatep may soon vanish as Yukos proprietor by selling off its stock." The problem-obsessed company is in no position to make plans-even for as close as next year. Long-term planning, either, will not come up before the fate of the Yuganskneftegas, largest Yukos production affiliate, is sealed, added Mr. Geraschenko, top-notch financier and once Central Bank president.
His statement sent Yukos stock 10 per cent up today. Bidders were rather lax, however, with cautious expert forecasts. What Geraschenko is promising is easier said than done, warn analysts-that is his own opinion, and the Menatep is not supporting it. Experts do not know for today whether he has made it up with Menatep holders after a clash over Yukos stock.
