Rosneft said Wednesday it could delist shares in TNK-BP Holding, which it acquired last year, if its offer to buy out minority shareholders falls through.
In September, Rosneft offered to buy out minority owners of TNK-BP Holding, later renamed RN-Holding, for 67 rubles ($2.06) per ordinary share and 55 rubles per preferred share.
The offer disappointed some investors, who were hoping for a higher price.
On Wednesday, Rosneft said it would proceed with its initial offer, saying it would be effective for the next 75 days, until Jan. 20.
"Even if Rosneft is unable to complete, or decides not to proceed with such a buyout, Rosneft intends to seriously consider the possibility of delisting RN-Holding," Rosneft said in a regulatory filing.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
