OAO Yukos Oil Co. investors with a combined $3 trillion under management, including Deka Investment GmbH and Janus Capital Group Inc., urged President Vladimir Putin to end the ``fear and uncertainty'' about Russia's investment climate
Published:
6 July 2004 y., Tuesday
OAO Yukos Oil Co. investors with a combined $3 trillion under management, including Deka Investment GmbH and Janus Capital Group Inc., urged President Vladimir Putin to end the ``fear and uncertainty'' about Russia's investment climate caused by the state's investigations into the oil producer.
Russia's RTS index is down 28 percent since April 12, slashing its value by $55 billion, after Yukos's assets were frozen over a tax case and its biggest owner Mikhail Khodorkovsky faced trial on tax and fraud charges that he denies. The RTS was the third-worst performer in the second quarter among 60 indexes Bloomberg tracks.
``A climate of fear and uncertainty has descended upon the market regarding the state's ultimate intentions toward Yukos,'' the funds wrote in the letter. ``We believe there is an urgent need to meet with representatives of the Russian government and/or the presidential administration.''
Deka, Germany's second-biggest mutual fund company, Janus, the ninth-largest U.S. stock and bond mutual fund manager, and 10 other investment funds wrote to Putin on Wednesday warning that investor confidence in Russia is suffering from the Yukos conflict. The funds hold about 5 percent of Yukos between them.
Putin hasn't commented on how Yukos's tax debts can be resolved, after he said June 17 he opposes bankrupting the company.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »