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Antitrust Regulator Gives Rosneft Green Light on Alrosa Purchases

The Federal Anti-Monopoly Service has given Rosneft's TNK-BP Holding the go-ahead to acquire 100 percent of the stock in Geotransgaz and 100 percent of Urengoi Gas Company from Alrosa, Russia's diamond monopoly, the service said in a statement, Interfax reported.

Rosneft President Igor Sechin said not long ago that the state company was interested in acquiring Alrosa's gas assets.

Sechin said Rosneft is busily growing its gas reserves and is engaged in the development of gas business.

The diamond monopoly consolidated 100 percent of both companies in the spring of 2012 at a cost of $1.1 billion.

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