Usmanov May Seek $160 Million in IPO of Television Unit, RBC Daily Reports

Russian billionaire Alisher Usmanov may seek to raise as much as $160 million selling shares in his television unit UTV next year, RBC Daily reported, citing unidentified people familiar with the matter.

UTV owns Media-1, 7TV and Muz-TV, the Moscow-based newspaper said today. The unit may be valued at about $400 million, RBC Daily said.

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To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net