January 17, 2011 / 10:01 AM / in 9 years

Rosneft,BP to discuss joint board participation-Ifax

(Corrects spelling of “company’s” in first paragraph)

MOSCOW, Jan 17 (Reuters) - Russia’s state-owned oil giant Rosneft (ROSN.MM) will discuss joint participation in board meetings with British major BP (BP.L), Interfax quoted the company’s CEO Eduard Khudainatov as saying on Monday.

Khudainatov also said that Rosneft, which agreed to a share swap with BP on Friday, will not issue additional shares in the company to cover the deal in which Rosneft will give BP a 9.5 percent stake in itself in exchange for a 5 percent stake in BP.

“Rosneft has the ... shares that it plans to give to BP ... treasury stock,” Khudainatov said. (Writing by Jessica Bachman; Editing by Toni Vorobyova)

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