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Rostelecom May Buy Media Assets for $1.3 Billion, Vedomosti Says

OAO Rostelecom, Russia’s dominant long-distance phone company, and its regional affiliates may buy media holding OAO National Telecommunications from an ally of Prime Minister Vladimir Putin, Vedomosti reported, citing unidentified people familiar with the matter.

Rostelecom may pay $951 million for 72 percent of NTK, as the media company is also known, the Moscow-based newspaper said. State-run Rosetelecom and partners may then offer $374 million for the rest of NTK, Vedomosti said.