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TNK-BP shares at historic low on Rosneft's Sechin comments
March 22, 2013 / 9:29 AM / 5 years ago

TNK-BP shares at historic low on Rosneft's Sechin comments

MOSCOW (Reuters) - Shares in TNK-BP Holding TNBP.MM, the traded unit of TNK-BP oil producer, fell more than 14 percent to reach its historic low on Friday after Igor Sechin, the head of Rosneft (ROSN.MM), reiterated that Rosneft will not buy out TNK-BP shares.

Sechin told Rossia-24 TV channel that Rosneft has no plans to buy out TNK-BP shares from minority shareholders. He was speaking after Rosneft completed the $55 billion deal to acquire TNK-BP from BP (BP.L) and AAR consortium of four Soviet-born tycoons.

As of 0915 GMT(05:15 a.m EST), TNK-BP Holding shares were down 14.28 percent to 48.7 roubles, touching a historic low of 48.11 roubles earlier in the day.

Reporting by Vladimir Soldatkin

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