BP's shareholders have called for a cash payout to be made if the sale of its 50% stake in TNK-BP goes through, as talk it is poised to offload its holding imminently picks up.
In a stock exchange announcement today, BP said it was in "advanced talks" with Russian state-owned oil producer Rosneft about the sale of its holding, but said no sale had yet been agreed. TNK is Russia's third largest oil producer, and a sale would give Rosneft full ownership of the firm and make it the world's largest public oil company. But according to Telegraph reports, shareholders in BP are concerned the company's new structure will shave 85% off its current returns from Russia, and are demanding a cash pay-out in compensation. If BP sells its stake to Rosneft, BP is expect...
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