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General Maritime: Frontline bought stock

(Bloomberg) ? General Maritime Corp. said Frontline Ltd. indicated it bought an unspecified amount of General Maritime common stock in a purchase big enough to result in a regulatory filing on Schedule 13D.

Bermuda-based Frontline also expressed an interest in a business combination although no offer has been made, New York- based General Maritime said in a statement on PR Newswire yesterday.

General Maritime said it?s not actively planning to sell the company or enter a business combination.

Schedule 13D is a Securities and Exchange Commission form that?s filed within 10 business days of the acquisition or sale of a security by an individual or group that owns 5 percent or more of the outstanding stock of a company and who intends to influence the operations of the company.

Frontline vice president Tor Olav Troim declined to comment in a telephone interview. He also wouldn?t confirm whether Frontline, or the company?s main owner John Fredriksen, has bought shares in General Maritime.

Leon Berman, a spokesman for General Maritime in New York, wouldn?t elaborate on the statement.

Shares of Frontline fell as much as 27.5 kroner, or 7.7 percent, to 328 kroner, and traded at 333 kroner as of 1:54 p.m. in Oslo. General Maritime?s stock fell 3.7 percent to close at $43.97 in New York yesterday.