World Deferred

"Media-Most" and "Gazprom-Media" cannot agree

The signing of a settlement agreement between Media-Most and Gazprom-Media has been postponed again. Already on the eve of the meeting in the Zamoskvoretsky court (as part of the consideration of the claim of Gazprom-Media regarding the fulfillment by Vladimir Gusinsky of the terms of the agreement dated July 20 on the transfer of controlling stakes in the Media-Most companies to Gazprom), it was clear that there would be no peace settlement on November 3 signed. At the beginning of the week, there was talk that new disagreements had arisen in negotiations between Vladimir Gusinsky and Alfred Koch over the past weekend. A source close to the negotiations, in a conversation with a correspondent for the Vremya Novostei newspaper, then assessed the likelihood of signing an agreement as “1 in 10.” And as a result of yesterday’s court hearing, it became known that the signing of the settlement agreement was postponed to November 14, since, according to the head of Gazprom-Media Alfred Koch, “objectively, the delay will allow us to finalize a rather crude document.” The signing of the settlement agreement is scheduled for the day after Vladimir Gusinsky will have to visit (or not visit) the Prosecutor General's Office to file charges of fraud. Both Koch and representatives of Media-Most call the sequence of dates an “absolute coincidence,” while a source close to Gazprom-Media told the Vremya Novostey newspaper: “There can be no coincidences in such a matter.”

Despite everything, yesterday the representatives of the parties were completely calm and still stated that they did not reject the possibility of signing a settlement agreement. However, the parties did not disclose any details of these negotiations. “Some things don’t suit them, some things don’t suit us, but now we are working on polishing the legal formulations. The fundamental parameters remain the same, and Gazprom-Media is satisfied with them, this is how an informed source in Media-Most described the current stage of negotiations to a Vremya Novostei newspaper correspondent. “Of course, the question of political control is in the air, but there is not a word about it in the negotiations.” Representatives of Gazprom-Media Anatoly Blinov and Alfred Kokh refused to talk about the contradictions with Media-Most. Mr. Blinov only diplomatically noted that “the disagreements (with Media-Most. - Ed. ) are gradually fading away.” According to the Vremya Novostei newspaper, the parties, among other things, still do not have clarity on the issue of who and on what terms will conduct the search and negotiations with a potential foreign investor and how the issue of the second debt of Media-Most to Gazprom will be resolved (more than $170 million), which expires in July 2001.

Both sides have made no predictions about the outcome of another upcoming trial, scheduled for November 8. On this day, the arbitration court will consider Gazprom-Media’s claim for a debt of $211.6 million, which expired in March. The claim is also part of the settlement agreement. In a conversation with a correspondent of the Vremya Novostey newspaper, the parties assessed the chances of concluding a settlement in arbitration differently. A source at Media-Most said: “Let’s wait until November 8, and then we’ll see.” Alfred Koch was more definite: “I don’t think that a settlement agreement will be signed in the arbitration court.” About the possible development of events on this day, Mr. Koch says this: “I’m not guessing on the tea leaves, I can’t say anything yet, I’ll now think about what to do on November 8.” To our question, what will happen next if Vladimir Gusinsky again refuses to sign the settlement, Mr. Koch replied: “We will go to the end - we will consider the claims on their merits.”

At the same time, one of the authoritative media experts comments to the Vremya Novostey newspaper on the situation between Gazprom-Media and Media-Most: “The world is inevitable. They simply have no choice. It is not beneficial for Koch to continue suing, because this is a very long and ineffective process, and besides, there is foreign participation in Media-Most, and this complicates everything even more. It’s also not profitable for Gusinsky: Most’s debts are only increasing. And in the new year his companies simply won’t have anything to live on.”

Photo caption:

This coming weekend Alfred Koch will be thinking