BP to use TNK-BP cash for $8bn buyback
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Breaking news
Friday March 22 2013
Breaking News
BP to use TNK-BP cash for $8bn buyback
BP will launch a share buy-back worth as much as $8bn following the sale of its stake in TNK-BP, the oil group's joint venture in Russia with the Kremlin-controlled oil group Rosneft.
The oil major, which completed the sale of its 50 per cent stake in TNK-BP to Rosneft on Thursday, received around $12.5bn in cash for the sale.
http://link.ft.com/r/CTBPCC/GYNYZV/5CJLMI/QNEFVI/4V9IV7/AZ/h?a1=2013&a2=3&a3=22
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