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Glencore says may raise stake in Rosneft in future

Published 19/10/2017, 13:02
Updated 19/10/2017, 13:10
© Reuters. The logo of commodities trader Glencore is pictured in Baar

VERONA (Reuters) - Commodities trader Glencore (L:GLEN) may raise its share in Russian oil major Rosneft (MM:ROSN) in the future, Glencore CEO Ivan Glasenberg said on Thursday, adding that he saw the stake in Russia's largest oil producer as a long-term investment.

Glencore will retain the 0.5 percent stake in Rosneft after Chinese conglomerate CEFC buys a 14.16 percent stake in the company from a consortium of Glencore and the Qatar Investment Authority.

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