Report: Gazprom to take over TNK-BP with majority stake

04/24/2008 | Reuters

Russia's gas export giant Gazprom will buy majority control of oil major TNK-BP by the end of the year, the Vedomosti daily newspapers reports, citing unnamed sources close to the management of both companies. BP is a 50% owner of TNK-BP, and the other half is held by a group of Russian billionaires. Analysts had predicted a forced sale to a state firm with close ties to the Kremlin such as Gazprom.

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