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Through a shareholding with Rosneft, BP would have access to Russia's huge reserves of oil and gas.
LVMH, in spite of the legal challenges, has made out handsomely from its shareholding, with a paper profit of about €2 billion.
That could set BP back $20 billion or more.Through a shareholding with Rosneft, BP would have access to Russia's huge reserves of oil and gas.
Under the proposed deal the Scottish tycoon would take over 75 per cent of Murray's shareholding, with the London-based property developer Andrew Ellis becoming a 25 per cent partner.
Whyte will take over 75% of Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25% partner, once the buy-out is rubber-stamped by the current owner.
Earlier this week, the South African retail group increased its offer for Poundland by 5p a share to 227p, including a dividend, after an activist investor, Elliott Capital Advisors, amassed a shareholding with the potential to upset the takeover.
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That is despite its 10% cross-shareholding with the Berlin Stock Exchange, and an agreement to build a common trading system.A merger between Nasdaq and the LSE would create the second-biggest stock exchange in the world.
Some board members are keen on a European investment-banking tie-up, perhaps with Banque Nationale de Paris, which recently took control of a rival French bank, Paribas, and which has a longstanding alliance (and small cross-shareholding) with Dresdner.
Toyota, Honda and Nissan are all involved in webs of interlocking shareholdings with their business partners and suppliers.
Big companies were enmeshed in cross-shareholdings with the country's leading banks that protected managers from the grumbles of other shareholders and from takeovers.
Nearly half of Japanese shares are held by friendly investors through cross-shareholdings with other companies though these have been slowly unwinding.
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