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Rostelecom to Cut Capital Expenditure

State-controlled telecom operator Rostelecom aims to cut capital expenditure in the next four years and focus on internet services such as digital television, Vedomosti reported Tuesday.

Rostelecom plans to cut investments to 20 percent of its revenue in 2014, and to no more than 10 percent of revenue by 2018, the newspaper said, citing sources familiar with the company's newly outlined strategy.

This compares with investments of 91.2 billion rubles ($2.8 billion), or 28.4 percent of the revenue in 2012.

The state-controlled former long-distance call monopoly was beefed up in 2011 through a merger with several regional operators to challenge private players in more lucrative market segments such as mobile, broadband and pay television.

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