The Godfather way

There’s nothing like a police raid, espionage charges and a tax-evasion probe to clear the skies over protracted negotiations. The Russian shareholders of TNK-BP at last have seen the light. According to Vedomosti, the Russian business daily, they have agreed to sell their 50% stake in Russia’s third largest company to Gazprom for around $20bn. The co-owner of the joint venture, BP, seems to be safe for now. That is, unless Russia insists on acquiring the extra 1% that would give it a firmer con...