MARKET TALK: Little Logic In TNK-BP Buying BP Assets -Metropol

29th Jul 2010 13:50

1250 GMT [Dow Jones] There is little logic in BP (BP) selling assets to its Russian joint venture TNK-BP (TNBP.RS), despite reports the two companies are discussing BP's Venezuela assets, says Metropol analyst Alexander Nazarov. "BP needs to get the highest price for its assets. If it sells assets to TNK-BP, in reality the half of the price BP will pay from its own pocket," he says. Also, "TNK-BP would be seeking for a considerable discount from BP, being a BP's associate. As a result, both companies may lose as a result of such a deal," he says. BP shares +1.3% at 408p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 29, 2010 08:50 ET (12:50 GMT)