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Shares in TNK-BP soared 12 percent on the comments. It is not uncommon in Russia for top officials including President Vladimir Putin to make "suggestions" to state-controlled and private companies on key investment decisions. Rosneft's board of directors convened later Friday and approved the buy-out, Sechin told Russian news agencies. He said earlier that the company would buy the shares at the 18-month average price. Rosneft previously approved plans to pull out billions of dollars from TNK-BP subsidiaries as loans and indicated that it would not be paying a dividend for the previous fiscal year to TNK-BP shareholders.
[Associated
Press;
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