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City to Auction Off 64 Percent of Olympiiski Stadium

The Moscow government is selling its 64-percent stake in the Olympiiski Sports Complex on Olympiiski Prospekt.

The city's share in the sports complex, which consists of an indoor arena and a swimming pool built for the 1980 Summer Olympics, will be sold at an auction scheduled for Dec. 25, the city's tender committee told Interfax.

"On sale is 49 percent of the Olympiiski's shares owned by the city and a 15-percent stake owned by the Interindustry Investment Fund, which, in its turn, is also city property," a source in the tender committee said.

According to the official, the 64-percent stake in the sports complex will be offered at the starting price of 4.45 billion rubles ($136.2 million).

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