Yukos To Destroy Itself»

Russia oil giant Yukos? shareholders are considering liquidation or filing for bankruptcy after deciding against a rescue plan for the company.

They are going to discuss the issue at the meeting on 20 December.

Some form of liquidation is being seen as a way to avoid selling a large part of the business, something threatened by the Kremlin; bankruptcy would allow the company to unfreeze its assets, and raise much-needed cash.

Now shareholders are pending of the auction sale of Yukos?s key production unit Yuganskneftegas, and then they will be able to implement one of their plans.