Bashneft’s shares again demanded from AFK Sistema

AFK Sistema is likely to have to return 2.66% more of Bashneft’s shares to the amount of about 5 billion rubles to the state, the General Prosecutor's office thinks. The company has already lost 71.6% of the company's shares, but this package wasn’t included in the claims, because it was pledged on a repo transaction. However, according to the Kommersant’s information, AFK Sistema can voluntarily return the remaining shares.

The First Deputy General Prosecutor, Alexander Buksman reported to the Interfax yesterday that the minority package of the Bashneft’s shares, remaining with AFK Sistema, should be returned to the state. "As it turned out, we haven’t yet completed the process of returning all shares of Bashneft, owned by AFK Sistema and its subsidiaries, to the federal ownership," - he said. It is about 2.66% of the shares, pledged to a bank on the repo transaction on July 2; Systema doesn’t disclose the name of the bank. "Now (from October 30), the shares are again on the books of Sistema-Invest," - said the prosecutor.