BP Investors Question Rosneft Swap Without Exploration, FT Says
By Brian Swint -
2011-03-26T08:33:23Z
Investors in BP Plc (BP/) said the company shouldn’t push ahead with the $7.8 billion share swap with OAO Rosneft without a deal to explore Russia’s Arctic, the Financial Times said.
BP’s Russian billionaire partners in the TNK-BP venture won an extension of an injunction blocking the Rosneft deal this week. BP said yesterday it will apply to proceed with the share swap on its own, without the exploration pact. That would be a concern for investors, according to two shareholders who declined to be identified, the FT said.
To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net
To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net
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