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Saudi Aramco 'in talks to shelve IPO'

Talks with foreign governments over possible private sale gather pace, report says

Saudi Aramco is considering shelving plans for an international public offering in favor of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.

Talks for a private sale to foreign governments, including China, and other investors have gathered pace in recent weeks, according to the report.

Saudi Aramco was not immediately available for comment.