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Rosneft to Spend $1.8 Billion on Stock Buyback, Kommersant Says

OAO Rosneft, Russia’s state-run oil producer, will spend as much as 60 billion rubles ($1.8 billion) buying back 2.7 percent of its shares, Kommersant reported, citing people close to the company.

The oil producer stopped accepting bids from shareholders on May 24, the newspaper said.

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