Billionaire Alexander Lebedev of Russia has been discussing with investors about potential sale of 4.5% stake of the country's flagship carrier. The business tycoon stated Thursday in business daily Vedomosti, that he is looking to reduce his holding in Aeroflot.

Last year, the outspoken billionaire told Reuters that he may sell his Russian assets after being under Kremlin pressure. The decision was also arrived after being charged over his part in a quarrel on a TV talk show. Lebedev holds media assets in Russia and Britain.

According to Vedomosti, Lebedev decreased his sales by 12.5% late last year from more than 25% earlier. Lebedev owns 4.5% of Aeroflot that is valued at US$78 million.

A spokesman for the tycoon was not available to give statements for the report.

Last year, the business tycoon was set on trial after throwing a punch at property developer Sergei Polonsky. If convicted, he will face a five year imprisonment for charges of hooliganism and battery, according to the same newspaper.