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14

TNK-BP is still worth $60 billion

Mr. Vekselberg is absolutely sure about the price

Russia's TNK-BP, due for a public share sale in the next few years as part of a peace deal between BP and its local partners, is still worth $60 billion (34.1 billion pounds), one of the billionaire shareholders said on Wednesday.

Viktor Vekselberg, part of the Alfa-Access-Renova consortium which owns 50 percent of TNK-BP, left his longstanding estimate of the company's value unchanged despite plunging Russian asset prices.

"This is my estimate. I always said that the company is worth no less than $60 billion, and it is worth that much now," Vekselberg told reporters.

But another member of the AAR consortium suggested the initial public offering (IPO) was not the only way forward for the company.

"This is one of the options," Fridman told reporters separately. Vekselberg said he was not aware of other options.