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Medvedev Orders Central Bank to Organize Micex Exit

Jan. 20 (Bloomberg) -- President Dmitry Medvedev ordered Russia’s central bank by June 1 to determine the timing and method for unloading its shares in the Micex Stock Exchange.

Bank Rossii will coordinate its actions with the government, the Kremlin said today in an e-mailed statement.

The central bank in July last year held a 29.8 percent stake in Micex, which handles about 70 percent of share transactions in Russia, the Kommersant newspaper reported today, citing an unidentified official.

The share sale was discussed yesterday at a meeting chaired by Finance Minister Alexei Kudrin, the newspaper said, citing one of the participants.

To contact the reporter on this story: Henry Meyer in Moscow at hmeyer4@bloomberg.net

To contact the editor responsible for this story: Willy Morris at wmorris@bloomberg.net

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