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— set up four years ago by the heads of top internet companies Alibaba Group Holding Ltd.

Saudi authorities plan to list up to 5 percent of Aramco on the Saudi stock exchange in Riyadh, the Tadawul, and also one or more international markets.

One person involved in discussions between Aramco and potential Chinese investors said the ultimate size of the consortium’s stake had not yet been decided.

That source said the entity that would lead the consortium had also not been decided, with many state-run groups keen to take on the high-profile role.

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