MOSCOW – Shares in TNK-BP Holding , 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 , 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 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)