Swiss-based oil and commodity trader Gunvor Wednesday dismissed a report in Russian media that it could be sold after one of its co-owners, Gennady Timchenko, withdrew from the business in March. Citing unnamed market sources, Russian daily Kommersant said Torbjorn Tornqvist, the other co-owner of Gunvor, was preparing for the sale of the company. Kommersant said Gunvor was offered for sale earlier this month and talks are underway with several potential buyers, including Russia’s biggest oil producer Rosneft.
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