BP shareholders call for 50% asset sale

BP is facing calls from some of its biggest shareholders to sell off up to half its assets as part of a radical restructure.

Some of the firm's top 10 shareholders want the company to sell a further $30bn worth of assets on top of the $30bn (£18.37bn) already earmarked, following the Gulf of Mexico oil disaster a year ago, according to the Sunday Times. The shareholders claim the oil giant has a "once in a generation" chance to transform itself into a smaller, faster growing company. One shareholder told the paper: "The company needs to be shrunk considerably to make it an interesting investment. We would like to see management dispose of much more than the $30bn indicated. "Recent asset sales show that ...