OIL THIRSTY CHINA WANTS YUKOS ARM.
By Peter Klinger.
A CHINESE official said yesterday that Beijing was interested in buying the
prize asset of Yukos, the Russian oil company on the brink of collapse.
A successful bid from China, which needs to ensure its oil supply, would
mean one of Russiaıs most important businesses being renationalised, albeit
by another country.
In a surprise move, a senior official from China's Moscow embassy is
reported to have said that Beijing would be very interested in the potential
$30 billion (£17.3 billion) acquisition of Yuganskneftegaz which accounts
for 60 per cent of Yukosıs oil production.
Fan Chunyong, an economics councillor at Chinaıs Moscow embassy, said
yesterday: "We are very interested in taking part in the bidding. But
the question is what policies the Russian Government takes toward foreign
companies."
Neither the Kremlin nor Yukos has declared Yuganskneftegaz for sale,
although the Kremlin last week appointed Dresdner Kleinwort Wasserstein to
value the asset.
Full article:
http://business.timesonline.co.uk/article/0,,8209-1224574,00.html
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