BP Plc (BP.L) said it had no plans to sell down its half-share in Russia's third-largest oil producer TNK-BP (TNBP.MM) and that its focus in Russia remained on developing TNK-BP. Sources close to AAR, BP's co-owners in TNK-BP, said BP executives had indicated on Monday that the company was ready to sell down its stake. AAR, a group of Soviet-born billionaires, interpreted the comments as a possible negotiating tactic to advance BP's hopes for a tie-up with Kremlin-controlled Rosneft (ROSN.MM), the sources said. But BP said no decision had been made to sell down the stake and denied preparations were being made to allow this.
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