Russian partners in TNK-BP plan offer for half of BP's 50% stake
MOSCOW – BP’s Russian partners in oil producer TNK-BP Ltd. plan to offer to buy half of BP's 50% stake in the venture, Bloomberg News reported Friday.
The partners will notify BP of their plans to negotiate on about July 19, a spokesman for the group told Bloomberg.
A BP spokesman told Bloomberg that "while we haven't yet seen anything," if the partners express interest "we will consider it alongside the indications of interest that we have already received."
Analysts have said BP's stake could be worth $25 billion or more. BP and its partners in TNK-BP have had several conflicts since the venture was formed in 2003.
Full story here.
Dow Jones Newswires