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. Last Updated: 07/27/2016

Usmanov Denies TeliaSonera Talks

Billionaire Alisher Usmanov denied a report saying that he is in talks with TeliaSonera about buying its stake in a telecommunications company that has a holding in MegaFon, the country's third-largest mobile operator.

Interfax reported Monday that Usmanov might conclude negotiations with Sweden's TeliaSonera to buy the stake in Telecominvest in two to three weeks.

"This topic is being discussed with other company shareholders," Usmanov said in an e-mailed statement. He said it was too early to say when the deal would be closed, without elaborating.

TeliaSonera holds 26.1 percent in Telecominvest, a shareholder in MegaFon.

In July, Usmanov sealed a $410 million deal to acquire 15 percent of Telecominvest from fixed-line operator North-West Telecom, through a little-known firm, Telecom Holding.

Bloomberg, MT