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Rostelecom Mulls $1.4Bln Share Offering to Crop Debt

State-controlled telecoms operator Rostelecom could sell up to 46 billion rubles ($1.4 billion) of shares in a secondary public offering of treasury stock to help it cut debt, Kommersant reported  Tuesday.

The float of a 15 percent stake could take place in the second half of 2014, with shares being offered at no less than 120 rubles each, the newspaper wrote, citing a source close to the company.

Rostelecom has said in the past that it might sell shares it acquired during several buybacks to help reduce debt.

A 2.7 percent stake of the operator was sold to Russia's state-backed private equity investment fund RDIF and Deutsche Bank for $237 million.

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