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Russian official reassures TNK-BP shareholders

Russian official reassures TNK-BP shareholders

Russia's deputy prime minister says Rosneft's CEO has assured him the company will respect the interests of the disgruntled minority shareholders of oil firm TNK-BP.
TNK-BP, Russia's third-largest oil company, was taken over by Rosneft last year. Since the deal, international minority investors holding some 5 percent in TNK-BP have been left in limbo, with Rosneft showing no sign of buying up the remaining shares.
Igor Shuvalov said Thursday that Rosneft's chief executive, Igor Sechin, had assured him the minority shareholders' interests "will be satisfied." He didn't provide details.
Sechin earlier Thursday sent stocks of TNK-BP down 3 percent after saying Rosneft would be accountable for TNK-BP's dividend only from March 21, when it formally acquired the company. That raised concern no dividend may be paid for the previous year.