Kerimov looking to sell Rostelecom stake

Russian billionaire Suleiman Kerimov is in the process of selling his nearly 6% stake in Russian state-owned telecommunications giant Rostelecom, reports Russian daily Vedomosti Monday, citing unnamed people close to Rostelecom and Kerimov's acquaintances.

While it is unknown who would purchase Kerimov's stake, one bidder for it could be Rostelecom, the paper says.Rostelecom declined to comment on whether it would be interested in buying back the shares.

Source: Total Telecom