MOSCOW, Nov 21 (Reuters): Veteran emerging markets investor Mark Mobius
said on Thursday he had sold his fund's stake in Russia's TNK-BP
Holding, walking away from his attempt to get a better buyout deal from
the firm's new owner, Rosneft.
Yet Mobius, manager of Templeton's Emerging Markets Fund, is not pulling out of Russia entirely after a bruising exchange between minority shareholders and Igor Sechin, the boss of the state-controlled Russian oil major.
"We will continue to invest in Russia but with care ... like porcupines making love," Mobius said an emailed reply to questions from the reporter.
The Franklin Templeton emerging markets group has more than $1 billion invested in Russian equities.
Yet Mobius, manager of Templeton's Emerging Markets Fund, is not pulling out of Russia entirely after a bruising exchange between minority shareholders and Igor Sechin, the boss of the state-controlled Russian oil major.
"We will continue to invest in Russia but with care ... like porcupines making love," Mobius said an emailed reply to questions from the reporter.
The Franklin Templeton emerging markets group has more than $1 billion invested in Russian equities.
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