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Glencore says may raise stake in Rosneft in future

Reuters
The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann (Reuters)

VERONA (Reuters) - Commodities trader Glencore <GLEN.L> may raise its share in Russian oil major Rosneft <ROSN.MM> 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.

(Reporting by Oksana Kobzeva, writing by Denis Pinchuk, editing by Dmitry Solovyov)