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No need to sell Russian shares over Ukraine crisis — Mobius

June 10, 2014, 12:49 UTC+3 MOSCOW
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MOSCOW, June 10. /ITAR-TASS/. Templeton Emerging Markets Group, which belongs to businessman Mark Mobius, will not further sell shares in Russian companies because of the Ukrainian crisis, Mobius said in an interview with Bloomberg on Tuesday.

The group earlier sold its entire stake in Russia’s largest lender Sberbank, cut stakes in diamond mining giant Alrosa and oil company Lukoil.

The fear of investors that Western sanctions will seriously damage operations with Russian companies on the global market is exaggerated, Mobius said.

Mobius also said it expects a significant growth of developing markets capitalization, and sees a number of undervalued companies with promising growth prospects in Russia.

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