TNK-BP's Russian, British shareholders fail to agree: report

MOSCOW (AFP) — Russian and British shareholders of joint oil venture TNK-BP failed to resolve the group's ongoing internal management dispute during its board meeting in Cyprus, the Russian side said on Sunday.

"The representatives of BP rejected four proposals made by AAR" on Friday, the Russian side in the TNK-BP dispute -- Alfa Group, Access Industries and Renova (AAR) -- said in a statement.

The two sides each own 50 percent of TNK-BP, Russia's third largest oil producer, but are not equally represented on the management company's board.

The struggle is the latest high-profile effort to remove foreign control over ...