Register14:08 GMT +3 hours03 July 2015
Live
Business

European Commission Approves Rosneft TNK-BP Deal

Business
Get short URL
0400
The European Commission gave approval on Friday to Russian state-owned oil giant Rosneft's purchase of the TNK-BP oil company, and says it sees the deal as no barrier to competition in the European oil market.

MOSCOW, March 8 (RIA Novosti) - The European Commission gave approval on Friday to Russian state-owned oil giant Rosneft's purchase of the TNK-BP oil company, and says it sees the deal as no barrier to competition in the European oil market.

"The commision has closely analyzed the possible consequences of the deal. As with all such cases with state companies, the EC was interested in whether Rosneft operated independently of the state or government, or whether the state could use its control of state companies in the sector," the EC said.

"This question was ultimately left open as the proposed acquisition did not give rise to competition concerns," the EC said.

Rosneft clinched two deals at the end of last year with BP and the AAR group of Russian billionaire shareholders to buy the oil company for around $55 billion.

 

Tags:
European Commission, TNK-BP

Community standardsDiscussion

Comment via FacebookComment via Sputnik
  • Сomment
Top stories