Russian TNK-BP investors seen eyeing stake in BP

Mon Jun 16, 2008 1:12pm BST
 
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MOSCOW (Reuters) - BP's (BP.L) partners in Russian oil unit TNK-BP (TNBPI.RTS) offered to swap their 50 percent share in the Russian company for 7.6 percent of shares in the oil major, Russian newspaper Kommersant reported on Monday.

At Friday's closing price of 585.25 pence per share, BP was worth 110.12 billion pounds, making 7.6 percent of BP worth $16.3 billion.

On Thursday, one of the Russian shareholders, Viktor Vekselberg, told Reuters a share swap had been discussed "as an idea" but was unlikely to come about while the shareholders wage a public relations war over management and strategy at TNK-BP.

(Writing by Melissa Akin; Editing by Robin Paxton/Quentin Bryar)

 
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