The spirits of shareholders of dismantled Russian oil company Yukos were low on December 6 after the top bid in an auction of several iconic vodka brands came up short. The financial holding company GML, the majority shareholder in Yukos before the Kremlin dismantled it in 2003, was hoping to sell the rights to Russian vodka brands Stolichnaya and Moskovskaya. Two bidders each placed a $250,000 deposit hoping to win the rights to use the trademarks in Belgium, the Netherlands, and Luxembourg. But GML reserved the right to reject the winning bids, and did so, deeming them as too low. To read the original story by AP, click here.
Spirits Low After Russian Vodka Brand Auction Runs Dry
Moskovskaya vodka was one of the iconic Russian vodka brands whose trademark rights had been up for sale. (file photo)