Templeton Emerging Markets Group Chairman Mark Mobius said the OAO Rosneft offer to purchase shares in OAO RN Holding must be pegged above RUB67 or USD2.07 per share. He made the remarks to investors such as Allianz Investments, Prosperity Capital and his very own Templeton.
The investors would want to get a higher price from state oil company Rosneft for shares in RN Holding. This is previously known as TNK-BP Holdings, after Rosneft acquired RN which then became TNK-BP's publicly traded unit.
Mobius shared his thoughts through an email from Greece. He said, "It certainly needs to be more than RUB67. Of course a compromise is eminently possible since no specific price has been put forward other than that."
Shares in RN Holding increased by as much as 18% last September 18, after Rosneft CEO Igor Sechin announced the possible buyout of minority shareholders with a given premium. Until such time, Sechin remained bull headed to oppose minority investors demands. He did mention in the Rosneft annual general meeting last April that the company is 'not a charity fund.'
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