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MegaFon to Premarket IPO

MegaFon may start premarketing for its London IPO next week but has yet to make a final decision regarding timing, three sources familiar with the situation said.

The company, of which tycoon Alisher Usmanov took control in April, in September asked the local markets regulator to allow it to list 123.38 million shares, or 19.9 percent of the total.

Analysts estimate that the initial public offering could raise at least $3 billion, making it the biggest in London since trader Glencore went public in 2011.

(Reuters)

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