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Rostelecom Sale Eyed

The government might sell a controlling stake in Rostelecom for at least $5 billion this year, First Deputy Prime Minister Igor Shuvalov said in an interview with Bloomberg.

"I think it would be right for the government to sell its entire stake this year, to sell it as a whole," said Shuvalov, who is in charge of Russia's privatization program. "The company has a lot of accumulated problems, but we think a controlling stake could be sold for a minimum of $5 billion."

A decision on the sale will be made no later than this fall, he said.

Earlier this month Olga Dergunova, head of the State Property Management Agency, said the government could sell its entire 53.2 percent stake in Rostelecom this year.

(MT)

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