June 26, 2010 / 9:04 PM / 10 years ago

US, UK agree no gain from damaging BP-UK official

TORONTO, June 26 (Reuters) - U.S. President Barack Obama and British Prime Minister David Cameron agreed on Saturday there was nothing to be gained from damaging BP (BP.L) (BP.N), a British official said.

The official said that Cameron had raised the issue of BP, which is facing a multi-billion dollar clean-up bill for the oil spill in the Gulf of Mexico, in his first face-to-face meeting with Obama since taking office last month.

“The PM raised BP and both agreed that there was nothing to be gained from damaging BP as a going concern,” the official said.

“Both agreed that BP must meet its obligations to cap the leak, clean up the damage and meet legitimate compensation costs.”

BP shares nosedived to a 14-year low on Friday and the company has seen $100 billion wiped off its market value since the start of the disaster, now in its 68th day.

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