UK court halts BP's Rosneft tie-up

By @ibtimes on

BP Plc's oligarch partners in Russia's TNK-BP have won an injunction blocking BP's plan to enter a share swap and exploration deal with state-controlled Rosneft , one of the lawyers in the court told Reuters on Tuesday. AAR, the holding vehicle through which the oligarchs own half of TNK-BP, had argued that the tie-up breached an agreement between it and BP, that BP would seek AAR's approval before entering any major new ventures in Russia.

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