CORRECTED-Russian MMK hopes to sell share in Fortescue by year-end

(Removes erroneous quote, adds replacement quote)

MOSCOW, March 20 (Reuters) - Russian steelmaker MMK

MAGN.MM hopes to sell its 5 pct share in Fortescue Metals Group by the end of the year, the company said on Thursday.

"The company is working effectively and by the end of the year, its capitalisation could get close to $20 billion," Viktor Rashnikov, who controls the steelmaker, told reporters.

Fortescue currently has a market capitalisation of around $14 billion.

(Reporting by Svetlana Burmistrova, writing by Elizabeth Piper, editing by Timothy Heritage)

Keywords: RUSSIA MMK/