BP SHARES SLIDE ON U.K. GOVERNMENT SALE NEWS
British Petroleum Co Plc <BP.L> shares
fell sharply in early trading, in response to last night's news
that the U.K. Government will sell its remaining 31.7 pct BP
holding during the financial year starting next month, dealers
said.
    By about 0840 GMT, BP shares were down to 802p, 26p below
last night's close of 828p and 14p lower than the opening
quote. The long-rumoured sale was announced by the government
at the end of the second day of the budget debate in
Parliament.
    At last night's closing price, unofficial estimates put the
value of the government shares in BP at around 4.8 billion stg.
 REUTER
