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Yurchenko Quit Over 'Intrigues'

Svyazinvest chief executive Yevgeny Yurchenko said in an interview published Wednesday that he decided to quit because of the intrigues and shadow management of the telecoms holding by investment fund Marshall Capital Partners and its co-owner Konstantin Malofeyev.

Yurchenko said Friday he resigned because he opposed allowing “one private individual to manage a state asset, regardless of what a great raider of Russia he is,” Kommersant reported.

Asked whether he was referring to Malofeyev, Yurchenko replied, “Yes,” in Wednesday’s interview with Vedomosti. “De facto, the controlling stakes of Svyazinvest and all its subsidiaries belong to Marshall Capital and Konstantin Malofeyev,” Yurchenko said.

Malofeyev told Vedomosti on Monday that he would not respond to “unsubstantiated accusations by an offended, fired manager.” Marshall Capital Partners spokeswoman Yelena Zubova said by phone that they had no additional comment. Malofeyev created the fund with partners, according to the company’s web site.

Yurchenko said Marshall Capital’s “former and current” executives now working in the company ignored him when making decisions. The last straw, he said, was the appointment of Alexander Provotorov, a former Marshall Capital employee, as chief of Rostelecom in July — a position he wanted.

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