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Reuters: Yunitex outbids TNK-BP, Shell in YUKOS retail sale

Thu May 10, 2007 1:46 PM BST

MOSCOW, May 10 (Reuters) – A little-known firm called Yunitex outbid Royal Dutch Shell and BP’s Russian venture TNK-BP at an auction for over 500 petrol stations of bankrupt oil firm YUKOS on Thursday.

The mystery company, which faced fierce competition from the two rivals during an auction lasting more than 20 minutes, paid 12.46 billion roubles ($484.3 million) for the network, a 62 percent premium on the starting price of 7.7 billion roubles.

© Reuters 2007. All Rights Reserved.

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