Investment fund Marshall Capital (MarCap), which is owned by Russian businessman Konstantin Malofeyev, has announced that its previously agreed deal to sell its 10.7% stake in national operator Rostelecom to a firm affiliated with businessman Arkady Rotenberg has fallen through after the self-imposed deadline expired. Rotenberg, a construction tycoon who used to be President Vladimir Putin’s judo partner, intended to pay around USD1.55 billion for the stake, but it now appears that the two sides have reached a mutual agreement to cancel the transaction. A MarCap statement regarding the development noted: ‘The legally-binding agreement in respect of the sale of Rostelecom shares has been terminated. The sides are free from mutual obligations regarding this deal’. Further, a MarCap representative told Reuters: ‘We are examining various options for the sale of our stake’.