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MegaFon Delays IPO

MegaFon has postponed its initial public offering until mid-fall, Vedomosti reported Tuesday, citing two sources close to the offering's participants.

MegaFon could make a placement once the market situation improves, a source at MegaFon's board of directors said. Meanwhile, a MegaFon spokesman said the company was fully prepared for an IPO.

MegaFon initially planned the IPO for July but subsequently postponed it until September because of the turmoil caused by the eurozone crisis.

(MT)

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