TNK-BP Wants Piece of BP (BP), or is it Rosneft?

In a move to take a stake in Rosneft, TNK-BP is looking to acquire a 5 percent stake in BP (NYSE:BP) which they would then turn around and swap with Rosneft for a 9 percent stake.

After all of that was completed, BP would end up with half of the 9 percent stake in Rosneft because of their 50 percent stake in TNK-BP.

There doesn't appear to be much chance of the dealing going through, assuming the approximate $8.16 billion could be raised by TNK-BP to make the deal, as it is expected to be opposed by the board of BP and would probably be rejected by Rosneft.

The positive on BP's side would be the cash infusion of $8.16 billion, which would help it in its quest to free up more cash, depending on what the current needs of the company are in light of liabilities connected to the Gulf oil spill.