Owner says Sistema can cut debt to comfortable level in 2020

DAVOS, Jan 22 (PRIME) -- Russian multi-industry holding Sistema expects to reach a comfortable debt level in 2020, owner Vladimir Yevtushenkov told reporters on Wednesday on the sidelines of the World Economic Forum in Davos.

“This year, (the company plans to reach a comfortable debt level), there is not much time left. If, of course, no interesting undervalued asset appears, when we need to raise (the debt) to take it. This is what is not ruled out as well,” Yevtushenkov said.

“We are not hung up about this idea: as soon as you begin to be obsessed about debt reduction, you no longer take care of the business,” he said.

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