Russia, Yakutia to reduce combined stake in Alrosa diamond market
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Russia, Yakutia to reduce combined stake in Alrosa diamond market
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Russia and the Yakutia region plan to reduce their stake in daimond mining giant Alrosa but still maintain a majority holding
MOSCOW (Reuters) - -
Russia and the Yakutia region plan to reduce their combined holding in the Alrosa diamond miner to 50 percent plus one share during the next three years, deputy finance minister Alexei Savatyugin said on Friday.
"We propose to keep a controlling stake with the government, Yakutia and regional municipalities," the official said on Friday.
The Russian Federation currently holds 50.9 percent of the miner, while the Sakha Republic (Yakutia) holds 32 percent and municipalities in the remote region hold 8 percent.
(Reporting by Olesya Astakhova, writing by Alfred Kueppers)
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