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. Last Updated: 07/27/2016

European Interest In Media-MOST

Rem Vyakhirev, head of state-run gas giant Gazprom, said Tuesday that a "European media holding" has expressed interest in buying shares of Media-MOST, Interfax reported.

Gazprom and Vladimir Gusinsky’s Media-MOST holding are locked in a dispute over a $473 million debt to Gazprom.

Vyakhirev refused to name the prospective buyer. He also did not specify how large a stake was in question.

Gazprom owns a 14 percent stake in the media holding, and another 40 percent stake was put up by Media-MOST as collateral for two loans guaranteed by Gazprom, one of which — $211 million — was paid off in March.

In July, the two companies signed an agreement transferring control of Media-MOST to a Gazprom subsidiary. But Gusinsky has argued the agreement is invalid because he signed it under duress.

Vyakhirev said Gazprom intends to repossess Media-MOST and sell it to the highest bidder in an open tender, news agencies reported.