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Kerimov Selling Shares

Suleiman Kerimov is in the process of selling about 6 percent of the common shares in Rostelecom he bought in early November 2011 from former Svyazinvest general director Yevgeny Yurchenko, Interfax reported Monday, citing Vedomosti.

There are several potential buyers for the stake, one source said.

The potential buyers include Rostelecom, which could buy some of the shares as part of a buyback program approved last October. Rostelecom is already in the process of securing a loan for this purpose from VTB, the newspaper's source said. The state bank also participated in financing Kerimov's deal with Yurchenko.

(MT)

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