Tuesday, June 07, 2011
Dow Jones Newswires
by Alexis Flynn
BP said Tuesday it has no plans at present to divest any of its shareholding in TNK-BP Ltd.
BP's comments follow a report late Monday that the U.K. major was beginning preparations to sell part of its stake in the conflict-plaugued Russian venture to Rosneft in a bid to salvage a landmark cooperation deal with the Russian state oil company.
"BP has taken no decision to sell any of its shareholding in TNK-BP and there is no current intention to do so," a BP spokesman told Dow Jones Newswires.
Top BP executives notified the Russian billionaire shareholders in TNK-BP Monday that the U.K. company would soon send them a letter formally announcing the U.K. company's intention to sell down its 50% TNK-BP stake, the first step in such a sale, The Wall Street Journal reported Monday, citing people familiar with the situation.
Copyright (c) 2011 Dow Jones & Company, Inc.
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