| Russia's sovereign wealth fund, the Russian Direct Investment Fund, and Germany's Deutsche Bank AG (DB) are to buy a joint stake in Russian telecommunications company Rostelecom (RTKM.RS) for a combined 7.67 billion rubles ($238 million).
The money from the deal "will be used to further develop and strengthen the company's market position," the Russian fund said in a statement. The Russian government, which owns 55.2% of Moscow-listed Rostelecom, plans to sell its controlling stake for at least $5 billion by 2016, and the announcement comes not long after senior management changes at the company, which has been in the process of revamping its long-term strategy...............................................Full Article: Source
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