Russian Business Magnate Mikhail Fridman Quotes

Motivational quotes collection by business executive and co-founder of Alfa-Group Mikhail Fridman.

There’s always a chance.
This can all be discussed, we’re open to this
We made several efforts to start dialog with the board but they were cut off sharply
So we made them another offer, which is for us less attractive, but nonetheless we believed that this situation needed to be resolved somehow.
We sent this offer to BP but all we got was a brief response that it didn’t interest them. No counterproposal.
The main problem we have is that we don’t have a dialog with BP management on any of the difficult issues that TNK-BP and our relationship are facing.
As soon as the new board member is appointed, TNK-BP management will ask the Board to approve a multibillion-dollar lawsuit against BP
Our impression was that BP shareholders understood our concerns and recognized the need to begin a constructive dialogue.
We don’t make dumb investments; buying a minority stake in a large public company isn’t a very effective way to influence management.
As of today, we’ve had no contacts with anyone on this.
But we’ve have no approaches yet which leads us to the conclusion that there’s no serious interest from anyone credible.
They’re under pressure on several fronts, in the U.S., Argentina, India, and here in Russia. They’re trying to buy time, to reassure investors by saying ‘don’t worry, we have offers.
For us the most preferable option would be to sell AAR’s stake for cash and BP shares over an extended period – say, 5-7 years – gradually, but with the terms spelled out up front.
Our message to investors was that if they expect a check for $25 billion to $30 billion to show up at BP [for its interest in TNK-BP], they have been badly misled by BP management.
We doubt it has any basis in fact. Our understanding is that among Russian companies, not one has conducted any serious negotiations with BP and no one intends to.