Talks between BP
BP and Rosneft made a cash and stock offer to buy out the co-owners of TNK-BP, represented through the Alfa-Access-Renova (AAR) consortium. They also discussed a proposed BP-Rosneft share swap whose deadline expired on Monday night.
A source close to AAR, which represents a quartet of tycoons who own half of TNK-BP, said the company would issue a statement shortly.
(Reporting by Vladimir Soldatkin, Writing by Douglas Busvine)