U.K. TREASURY CONFIRMS BP SALE TO GO AHEAD
The British Treasury confirmed that the
sale of British Petroleum Co Plc will go ahead as planned,
despite Monday's stock market crash which forced BP below the
330p a share set for the 7.2 billion stg issue.
    "The government are not considering terminating the BP
offer. The offer has been fully underwritten," a Treasury
spokesman said.
    The issue, which remains open until October 28, was fully
underwritten last week when the issue price was set.
    BP shares closed down 33p at 317p as the FT-SE 100 share
index crashed a record 249.6 points, more than 10 pct.
 Reuter
