ROSNEFT: WHO NEED RUSSIAN MONEY?

REUTERS. Rosneft's indirect investment in Italy's Pirelli that will make the Russian oil group the tyre maker's single-biggest shareholder is worth more than 500 million euros ($696.25 million), a source close to the matter said on Monday. According to a statement issued by Italian bank Intesa Sanpaolo, Russia's top oil producer Rosneft was set to acquire a 50 percent shareholding of a company which holds 26.2 percent of Pirelli, ending with a 13 percent stake in the tyremaker. Rosneft will also take on an unspecified amount of the debt now owed by Pirelli's holding Camfin, the source said.