January 22, 2020 / 2:19 PM / in a month

Russia's Sistema to announce updated dividend policy "soon" - Ifax cites owner

MOSCOW, Jan 22 (Reuters) - Russian conglomerate Sistema will announce its updated dividend policy “soon enough”, the company’s owner Vladimir Yevtushenkov said on Wednesday, the Interfax news agency reported.

Yevtushenkov said Sistema expects to reduce its debt to the target level of 150 billion roubles ($2.42 billion) in 2020.

Yevtushenkov added that online retailer Ozon, in which Sistema is a major shareholder, is ready for an initial public offering (IPO), but he is against a deal currently because of the risk the company might be valued at a low price. ($1 = 61.9675 roubles) (Reporting by Vladimir Soldatkin, Writing by Alexander Marrow; Editing by Elaine Hardcastle)

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