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Rosneft Buys Own Shares

Rosneft increased its holding of its own shares to 9.5 percent a day before extending the deadline on a stalled share swap with BP to May 16.

Rosneft unit RN-Development raised its stake on April 13 from 9.4 percent, acquiring 11.3 million shares, Rosneft said Tuesday in a regulatory filing. The unit bought some of the stock on the market, Interfax said. BP agreed in January to swap 5 percent of its own stock, then valued at $7.8 billion, for about 9.5 percent of Rosneft.

(Bloomberg)

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