Russia: Possiblity of Sibir Energy Stake Sale to TNK BP

'We had discussions with our fellow shareholder Igor Kesaev and we decided that our strategy will be to hold onto our packages,' Silkin said in article that appeared in local media this week. TNK-BP is preparing a 2.3 billion pound ($3.39 billion) offer for Sibir, without saying where it obtained the information.  TNK-BP shareholder German Khan has begun canvassing shareholders including unnamed UK institutions and Russia's Sberbank to see if the would accept a 6 pound per share offer.

Igor Kesaev, who holds a 23.5 percent stake in Sibir, declined to comment on the matter. Sibir had a net profit of $238.5 million in the first half of 2008. The company produces oil in West Siberia and has a refinery and a petrol station network in Moscow.

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