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Russian TNK-BP investors proposed share swap with BP
By Henry Tyler
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Posted 16 June 2008 @ 11:24 am GMT
A report on Monday said that the Russian partners in oil unit TNK-BP offered to swap their 50 per cent share in the company in exchange for 7.6 per cent of shares in BP. The report was in Russian newspaper Kommersant.
People leave the main office of TNK-BP Russian joint venture in central Moscow, March 20, 2008. REUTERS/Sergei Karpukhin
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investors russian share swap tnk
Defence pays dividends for private investorsOn Friday shares in BP were priced at 585.25 pence per share, meaning a 7.6 per cent stake in BP would be worth $16.3 billion.
Last week Viktor Vekselberg, one of TNK-BP's Russian Investors said the idea of the swap had been discussed as an idea but was unlikely to proceed while shareholders continued to argue about management and strategy at TNK-BP, reports Reuters.
This article is copyrighted by the International Business Times.
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