Foreign Companies Would Need Govt Approval to Buy TNK-BP Stake

LONDON - International oil companies would need approval from the Russian government to buy a stake in Russia's third-largest oil company, TNK-BP Holding, Energy Minister Alexander Novak said Tuesday.

BP PLC's Russian partners in TNK-BP, the Alfa Access Renova group, said late Monday they would seek to sell a stake in the venture to a third party or shares through an initial public offering if they were unsuccessful in their separate bid for BP's holding.

Copyright (c) 2012 Dow Jones & Company, Inc.


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