Russia's Embattled Yukos Offers Stake To Gazprom

The Moscow headquarters of Yukos (AFP)

June 21, 2006 -- Russia's oil company Yukos, which is faced with massive tax debts, wants to sell the 20 percent stake it owns in Sibneft oil group to state-controlled Gazprom.

Yukos board Chairman Viktor Gerashchenko says the talks have so far had no success.

He said the best way to safeguard what's left of Yukos would be to sell it directly to state company Rosneft, which already bought its main production unit in a much-criticized deal.

(RIA Novosti, Interfax)