Kremlin says Glencore, Qatari fund to buy 19.5 pct stake in Rosneft
MOSCOW, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - Commodities trader and mining group Glencore (Frankfurt: 8GC.F - news) and Qatar's sovereign wealth fund are together buying a 19.5-percent stake in state-controlled Russian oil company Rosneft, the Kremlin (IOB: 0Q8D.IL - news) said on Wednesday.
Russia will receive 10.5 billion euros ($11.3 billion) from the deal and will prepare a scheme for foreign currency conversion to avoid financial market volatility, the Kremlin spokesman told reporters. ($1 = 0.9301 euros) (Reporting by Polina Devitt and Elena Fabrichnaya; Editing by Greg Mahlich)