BP (BP) plans to repurchase $8B in shares after the completion yesterday of the sale of its 50%...

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP) plans to repurchase $8B in shares after the completion yesterday of the sale of its 50% stake in TNK-BP to Rosneft, following which BP was left with $12.5B in cash and a 19.75% stake in the Russian oil major. The $8B is equivalent to the value of BP's original investment in TNK-BP.