Oppenheimer Funds Increases Stake in Russian Retailer Magnit

Oppenheimer Funds Inc., Colorado- based asset management company, raised its stake in Russian retailer OAO Magnit to more than 5 percent, the Krasnodar-based food chain said today in a regulatory filing.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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