BP: $8 Billion Share Buyback After TNK-BP Sale Suggests Stock Is Cheap. Is It?
By:
Forbes Real Time
BP announced today that it will repurchase to $8 billion of its stock after selling a stake in its Russian joint venture. The British oil company completed the sale, dealing TNK-BP to Russian state oil company Rosneft, for $12.48 billion and a (19.75%) stake in Rosneft.
BP announced today that it will repurchase to $8 billion of its stock after selling a stake in its Russian joint venture. The British oil company completed the sale, dealing TNK-BP to Russian state oil company Rosneft, for $12.48 billion and a (19.75%) stake in Rosneft.
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