AAR to make bid for TNK-BP by October 17th

AAR, which owns half of TNK-BP, a Russian oil company formed from a merger of BP's Russian assets with those of AAR, is planning to make a 'competitive' offer for BP's 50 per cent stake by October 17th, according to group director German Khan, who was quoted in the Kommersant, a Russian national daily newspaper.

AAR, which owns half of TNK-BP, a Russian oil company formed from a merger of BP's Russian assets with those of AAR, is planning to make a 'competitive' offer for BP's 50 per cent stake by October 17th, according to group director German Khan, who was quoted in the Kommersant, a Russian national daily newspaper.

Russian rival Rosneft has also indicated its intention to purchase a stake in the TNK-BP, suggesting that there may follow a bid contest between the two.

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