April 5, 2018 / 7:12 AM / 2 months ago

Norway's DNO again raises Faroe Petroleum stake, holds 27.7 pct

OSLO, April 5 (Reuters) - Norwegian oil firm DNO has again increased its stake in Britain’s Faroe Petroleum , it said on Thursday, boostings its holding to 27.7 percent the day after it bought its first shares.

DNO on Wednesday purchased 25.4 percent of Faroe, adding it would become a long-term strategic owner in the firm while insisting it did not plan a full takeover. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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