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MOSCOW () -- The start of an auction of 4 percent of KomiTEK, one of Russia's vertically integrated oil companies, has been postponed because paperwork is not completed, a company official said.
Alexei Antipov, finance director of KomiTEK's Moscow office, said arranging necessary documentation had "dragged on," attributing delays to the firm's joint ownership by the federal government and the Komi republic.
The nationwide auction had been due to run from Oct. 24 to Nov. 24. Antipov said it was not now possible to say when bids would be accepted.
KomiTEK Sale Shelved
25 October 1995
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