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Kerimov Buys Telecom Stake

Rostelecom ex-board member Yevgeny Yurchenko said Thursday that he sold 6 percent of the company's shares to Suleiman Kerimov and will retain 2 percent of the company.

Yurchenko declined to comment on the price. Vedomosti reported the sale Thursday, saying the stake may have cost 27 billion rubles ($869 million).

Kerimov has expanded his fortune with investments in Uralkali, Polyus Gold International and PIK Group. His Anzhi Makhachkala football club in southern Russia has spent millions of dollars hiring international stars including Samuel Eto'o, the record four-time African player of the year, and Roberto Carlos.

(Bloomberg)

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