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Glencore's Rosneft Deal Proves Glasenberg Is Back, but With a Difference

Looking at Glencore's €10.2 billion ($10.9 billion) deal for a 19.5% stake in Russia's biggest oil producer Rosneft, it is tempting to conclude that the Swiss trading and mining colossus's CEO Ivan Glasenberg just can't help himself.

It is only seven days since Glencore reinstated its dividend, putting the final dot on a year-long recovery from a short-selling crisis triggered by low commodity prices and Glasenberg's own aggressive approach to acquisitions and financing.

Glencore shares traded Thursday at 304 pence, up 2.55%...