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Take the money

5 January 2011 By Fiona Maharg-Bravo

The Italian group is in talks to sell its 33 pct stake in Portuguese rival Galp to Brazil’s Petrobras. At market price, the 3.8 billion euro stake is worth more than four times the initial investment. No wonder Eni wants to sell. It’s harder to see why Petrobras wants to buy.

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