October 24, 2017 / 8:17 AM / a year ago

China's CEFC, Russia's VTB may close $5 billion loan deal by year-end - source

A CEFC logo is seen at CEFC China Energy's Shanghai headquarter in Shanghai, China September 14, 2016. REUTERS/ Aizhu Chen

MOSCOW (Reuters) - CEFC China Energy is in talks with Russian state bank VTB (VTBR.MM) to raise around $5 billion (£3.78 billion) in loan to finance acquisition of a stake in Russia’s largest oil firm Rosneft VTBRT.MM, a banking source familiar with the talks told Reuters.

The source added that VTB and CEFC might close the loan transaction by year-end.

Reporting by Andrey Ostroukh; writing by Katya Golubkova; editing by Dmitry Solovyov

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