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Does France Telecom want to become the minority holder of a Russian mobile phone operator dominated by two oligarchs? That’s a question the French telecom company will have to answer fast if its bid for Teliasonera, its Swedish-Finnish counterpart, ever succeeds. The shareholding structure of Megafon, the Russian mobile phone company, has long been murky. Although Megafon’s ownership has grown clearer recently, France Telecom would be wise to dispose of the stake if it ever takes over Teliasoner...