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Squatters Crash Yukos, Sibneft Virtual Merger.
(From The Moscow Times)
A benevolent cybersquatter has registered the domain name of nascent YukosSibneft and promises to give it back to the company for free, "if they need it."
Givi Barkalaya, a resident of St. Petersburg, said he is not a professional cybersquatter and registered the YukosSibneft site in the .ru domain by fluke on the day No. 1 Russian oil company Yukos and No. 5 company Sibneft announced they would merge.
"I'm waiting for them to contact me and make some kind of a proposition," Barkalaya said by telephone from St. Petersburg. "If they need it, I'll give it to them for free."
Companies that fail to register their names and brand names quickly on the Internet frequently become the victims of cybersquatters who grab the web site addresses first. Squatters then try to sell the names back to companies, demanding sums from $50 to thousands of dollars and rarely offer to give the web site addresses back to a company for free.
The demand for big-time domain names is huge, as Barkalaya can attest. He has been getting dozens of calls from people who want to buy the domain name of what will be the world's fourth largest company by production when Yukos and Sibneft merge before the end of the year. He would not say how much he was being offered ...
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