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BEIJING- The chairman of China's CNOOC Ltd. said Friday that he was confident that the state-controlled oil giant's proposed $15.1 billion buyout of Canada's Nexen Inc. would be completed by the end of the year.
CNOOC Chairman Wang Yilin said it wasn't fair to characterize obstacles to the deal as political. The deal was proceeding normally and is challenging only because it must be approved by six countries, he said on the sidelines of the Communist Party Congress.
Copyright (c) 2012 Dow Jones & Company, Inc.
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