MOSCOW May 10 Moscow's Arbitration Court on
Wednesday sent back a lawsuit filed by oil major Rosneft
against business conglomerate Sistema
concerning Rosneft's purchase of oil producer Bashneft
The decision to send back the claim sent Sistema's shares
Sistema said the court's position reflected its point of
view that Rosneft's claims were groundless.
A Rosneft spokesman said the court had sent back the lawsuit
because it believed it was not the appropriate court to hear the
He said Rosneft expected a court in Ufa to consider its
claim against Sistema instead.
Sistema shares plunged last week after Rosneft filed the
$1.9 billion lawsuit against Sistema, saying that assets had
been removed from Bashneft when it was owned by Sistema.
Rosneft bought Bashneft last year.
(Reporting by Anastasia Lyrchikova, Polina Devitt, Anastasia
Teterevleva and Vladimir Soldatkin; Writing by Alexander
Winning; Editing by Andrew Osborn)