3 Apr 2015 17:43

Glencore's Russneft share deal needs investment commission approval - regulator

MOSCOW. April 3 (Interfax) - Glencore's proposed acquisition of a 49% stake in Russian oil company Russneft needs the approval of the government's foreign investment commission, the Federal Antimonopoly Service's (FAS) press office told Interfax.

"The deal needs to be cleared with the government's foreign investment commission," the regulator said.

Rambero, a Glencore affiliate, sent the FAS a request in late February to acquire shares in the Russian oil company. The document was sent because of the law on protecting competition. The FAS decided to check this deal against the law on foreign investments and requested additional materials from the trader, cancelling the first request.