Glencore says may raise stake in Rosneft in future

Reuters

Published Oct 19, 2017 13:02

Glencore says may raise stake in Rosneft in future

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.