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Globaltrans Eyes Takeovers

Freight operator Globaltrans Investment plans to continue its expansion through acquisitions, the company said Monday.

Globaltrans is aiming to take advantage of continued liberalization in a freight market previously dominated by state-owned monopoly Russian Railways. Now more than 70 percent of the country's freight rail fleet is privately owned, Globaltrans said in a recent presentation.

Chief executive Sergei Maltsev said that MMK-Trans, a subsidiary of Magnitogorsk Iron & Steel Works, could be a target but that Globaltrans does not have any specific deals to announce.

Maltsev would also be interested in Evraztrans, he said in a conference call. Evraztrans, owned by Evraz, said in June that it may sell the transport asset.

(Reuters)

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