XIAMEN, China, Sep 5 (PRIME) -- Russian President Vladimir Putin expects that multi-industry holding Sistema and oil major Rosneft will be able to reach an amicable agreement, he said on Tuesday.
“I met both with the management of Rosneft and the management of Sistema – with (Vladimir) Yevtushenkov and (Igor) Sechin – precisely on this issue, I listened to positions of both of them. I think it would not be correct if I publicly stated my attitude to this case now, but I expect a lot that they will manage to reach an amicable agreement and I think that it would be beneficial for both companies and the Russian economy on the whole,” Putin said.
Sistema’s shares rose 12% on the Moscow Exchange on Putin’s statement.
Rosneft, the current owner of a controlling stake in oil company Bashneft, filed the suit against Sistema and its unit Sistema-Invest in May, seeking to recover a 170.6 billion ruble loss stemming from an alleged asset stripping at Bashneft by Sistema. In late August, the Arbitration Court of the republic of Bashkortostan ordered Sistema to pay 136.3 billion rubles to Rosneft and Bashneft, partially satisfying the suit. Sistema plans to contest the court decision.
(57.7817 rubles – U.S. $1)
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