Yukos Assets To Be Auctioned

(AFP) February 22, 2007 -- The assets of Russia's Yukos oil company will be sold at an auction on March 27.

Officials say the starting price for Yukos's 9.44 percent stake in state-controlled oil company Rosneft will be $7.3 billion -- or about 20 percent of its market value.

Yukos was Russia's largest oil producer until founder and CEO Mikhail Khodorkovsky was arrested on fraud charges in 2003.

(AP, AFP)