Following British gas conglomerate BP’s move to acquire a 19.85 percent control in Russia power giant Rosneft, Rosneft shareholders have reportedly planned to meet and vote on whether to allow BP veto powers in future mergers. Sources say the vote – scheduled for June 20 – could determine whether BP can vote on the buying and selling of Rosneft shares. Reports say if the amendment to Rosneft’s charter is approved, BP will likely seek those veto powers. BP sold 50 percent of its TNK-BP to Rosneft earlier this year and upped its stake in the Russian company to become its second-largest shareholder, after Kremlin. If the amendments are voted in, minority shareholders like BP CEO Robert Dudley will see a significant increase in influence.
Full Content: RT
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI