December 7, 2016 / 6:46 PM / 8 months ago

Kremlin says Glencore, Qatari fund to buy 19.5 pct stake in Rosneft

MOSCOW, Dec 7 (Reuters) - Commodities trader and mining group Glencore and Qatar's sovereign wealth fund are together buying a 19.5-percent stake in state-controlled Russian oil company Rosneft, the Kremlin 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)

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