28th Feb 2022 21:53
(Alliance News) - abrdn PLC has so far struggled to find a buyer as it bids to offload its stake in Russian oil firm Rosneft, Sky News reported on Monday.
The asset manager has been thwarted by restrictions of foreign share trades on Moscow's stock exchange, Sky News said.
Sky News explained the FTSE 100 listing's Rosneft stake amounts to just GBP5 million and is passively held through abrdn funds.
https://news.sky.com/story/fund-manager-abrdn-frustrated-in-effort-to-sell-rosneft-stake-12554109
BP PLC on Sunday said it will sell its 19.75% stake in the oil producer, which it co-owns with the Kremlin, after facing pressure from the UK government.
By Eric Cunha; [email protected]
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