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Yukos media assets to go under hammer June 7 - property fund

Russia's federal property fund said Tuesday it had finished accepting applications for a June 7 auction to sell media assets of bankrupt oil company Yukos.

Yukos, once Russia's largest oil company, was declared bankrupt August 1, 2006, after three years of litigation with tax authorities over the company's tax arrears. The initial price of the lot is 8.95 billion rubles ($346 million) with a bid increment of 89.49 million rubles ($3.5 million), the federal property fund said. No information on bidders for the lot has been released. (rian.ru)