Bloomberg News

Rostelecom Drops for First Day in Three on Kerimov Sale Report

January 16, 2012

Jan. 16 (Bloomberg) -- OAO Rostelecom, Russia’s state- controlled telecommunications operator, dropped for the first day in three after Vedomosti reported billionaire Suleiman Kerimov is in talks to sell his six percent stake.

The shares dropped 1 percent to 152.56 rubles as of 10:46 a.m. in Moscow, the biggest intraday fall since Jan. 11.

Rostelecom itself may buy back the shares from Kerimov, the newspaper said, citing a person close to the company.

--Editors: Alex Nicholson, Tim Farrand

To contact the reporter on this story: Jack Jordan in Moscow at jjordan22@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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