Moscow—Russian consortium Alfa Access Renova (AAR) plans to start talks over buying out BP’s share in Anglo-Russian TNK-BP, the 50:50 joint venture the two companies own, a source close to the matter said June 4. “AAR is considering buying BP’s stake in TNK-BP. Now that BP has sent its notice, AAR has the priority right to require BP to negotiate in good faith a purchase by AAR of TNK-BP shares from BP,” the source close to AAR said.
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