Baikal acquired Yukos? subsidiary for 260.75bn roubles ($9.37 billion). Earlier it was believed that the authorities would sell it by an underestimated price. Yukos? debt constituted $27 billion, however, the money got for Yuganskneftegaz, was over and above.
Yukos reacted immediately saying that the auction was illegal in international and Russian law, and said Baikal had bought itself trouble.
He said the company would continue to make "every lawful move" to protect tens of thousands of shareholders in Yukos from "this forcible and illegitimate removal of their property".
