Published Date:
18 July 2006
By VICTORIA THOMSON
SHARES in Russian oil giant Rosneft fell yesterday in the controversial stock's first session trading in Moscow as lawyers for rival Yukos sought to block a London listing planned for Wednesday in the High Court.
Rosneft's Moscow-listed shares fell by 1.7 per cent to $7.42 after the first stage of an initial public offering that will value the company at $80 billion (£44bn).
The losses came as London's High Court heard a challenge to the planned London listing.
Yukos accuses the Russian government of stealing its main oil producing subsidiary Yuganskneftegaz and selling it off at auction at a massive discount.
Yuganskneftegaz was later acquired by Rosneft for $9.4 billion and is now the Kremlin-backed group's main asset.
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Last Updated:
17 July 2006 8:31 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Yukos oil
