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

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

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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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