Oppenheimer Funds Increases Stake in Russian Retailer Magnit

Nov. 7 (Bloomberg) -- 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