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Russia's Sistema Defends 'Legal' Acquisition of Bashneft After Chairman Arrested

A man walks towards the headquarters of Sistema JSFC in Moscow, September 17, 2014.

Russia's oil-to-telecom conglomerate Sistema said Wednesday that the acquisition of oil assets in the republic of Bashkortostan was legal and transparent after its chairman was placed under house arrest in connection to the deal.

"Sistema's management believes that the acquisition of BashTEK group was legal and transparent. The company is fully cooperating with the investigation and intends to use all legal means to defend its position," Sistema said in a statement.

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