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Vekselberg keeps grip on TNK-BP stake



By Upstream staff 

Viktor Vekselberg, the billionaire co-owner of Russia's TNK-BP, a joint venture with UK supermajor BP, said today he and his partners saw no reason to sell their stakes.

"We would not think about selling the stake in TNK-BP, particularly I can say about my personal position," he told Reuters on the fringes of a Russia-EU business conference in Helsinki.

He said he and his partners had not discussed selling and he said talk that they might sell up was rumours.

"We just a few days ago, at our board meeting, had a very good discussion about our medium-term plan for the next five years," he said. "We did not touch on this question and we do not see any reason to sell our stake in TNK-BP."

Asked if he thought there was any pressure to sell from Russian state companies Gazprom and Rosneft, which many market participants believe are keen to buy out the Russian shareholders, Vekselberg said: "I do not see this."


Thursday, 23 November, 2006, 12:03 GMT  | last updated: Thursday, 23 November, 2006, 12:03 GMT

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