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. Last Updated: 07/27/2016

Svyazinvest Pushes for Privatization

TOKYO -- Telecoms holding Svyazinvest urged officials on Monday to come up with its privatization plan by mid-2006, saying that delaying the sale beyond that could undermine the company's value.

The privatization -- likely to be Russia's biggest to date -- has to be approved by President Vladimir Putin because the company serves the government and the military.

"Mid-next year is quite a critical point," Svyazinvest general director Valery Yashin said on the sidelines of a business forum in Tokyo.

"All decisions should be made by July next year. ... I think that delaying it would affect the company's value [and] its capitalization."

In October, officials said the Kremlin had decided to further put off the company's long-awaited privatization, and some industry experts speculated the sale could drag on for years.