Yukos Shareholders Ready for $50 bln Compensation Talks

Shareholders of former Russian oil producer Yukos are ready to discuss with Russia a court's decision to award them $50 billion in compensation, Tim Osborne, director of holding company GML, was quoted as saying by RIA Novosti wire on Tuesday.

"We are ready to hold talks with the Russian Federation and study rational proposals," he said.

Russia, whose economy is on the brink of recession, said it would appeal the ruling by the Dutch-based panel, which judges private business disputes.

Reporting by Vladimir Soldatkin