Overseas companies are launching talks long beforehand. They are, so to say, lining the queue for Sibneft stock-but they cannot do it before the Sibneft divorces the Yukos, says Evgeni Suvorov of the Zenith bank. He is sure the Sibneft will eventually be sold-the question is how much will go to whom. The French-based Total is the most hopeful purchaser out of an impressive bidder list, on which The Financial Times has put the USA's Chevron Texaco and Exxon Mobil, and the UK-Dutch Royal Dutch/Shell.
Alexander Razuvayev of the MegatrustOil agrees with his colleague on the Total's preferential chance. Overseas companies to come to the Russian market quite soon will gain, as petroleum assets will cost ever more with every passing day, he points out.
Overseas bidders have launched negotiations even before the Sibneft has parted with the Yukos. As Mr. Razuvayev sees the matter, it shows that the biggest Sibneft and Yukos stockholders have agreed it between themselves for a reverse deal, on which the Yukos will lose direct control of the Sibneft. The expert thinks they have made arrangements against overseas companies running political hazards as they bid for Russian petroleum shares.
The Total is bidding 25% Sibneft stock, assumes Maxim Shein of the Brokercreditservice. Others may bid for more, up to control stock. Be that as it may, sales cannot start before the Sibneft and the Yukos make their reverse transaction, he remarked.
Russian authorities have agreed, on preliminary terms, to Total Co. acquiring 25% Sibneft stock, The Financial Times says in today's issue. As the daily said on a previous occasion, Roman Abramovich, chief Sibneft holder, has been negotiating to cede 46% stock to the Royal Dutch/Shell, the Chevron Texaco and the Exxon Mobil. If Moscow goes on backing the Total, the French company will outrun its rivals, forecasts the daily. As an informant told it, the Total is bidding for 25% Sibneft stock plus one share. A banker tentatively evaluated the block at four billion US dollars.
