MOSCOW, September 15 (RIA Novosti) - The Russian Trading System said Friday it has resumed trading in Transneft [RTS: TRNF] preferred shares on the classical and exchange markets.
On May 5, the company's shares were frozen after the Prosecutor General's Office launched a probe into the allegedly illegal privatization of its shares and abuse of office.
It said shares were unlawfully distributed among various companies, and were later discovered at Registrator ROST, one of Russia's largest companies that services share registers.
Moscow's two biggest markets had to suspend trading in Transneft preferred shares, driving them down 7-8% on stock exchanges.
On Wednesday this week, Transneft won a legal victory after the Moscow City Court rejected an appeal lodged by prosecutors and upheld a lower court's ruling saying the arrest of its preferred shares was illegal.
