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Billionaire Lebedev Sell Off Aeroflot Stake
31.10.2013 22:16
Billionaire Lebedev Sell Off Aeroflot Stake
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Russian billionaire Alexander Lebedev has sold the remaining stake in Aeroflot, Russia’s leading airline, says Vedomosti daily.

      What used to be a blocking interest several years ago shrunk to 12.5 percent in 2012 and further down to 4.5 percent in 2013, worth some 2.5 billion roubles, or some $85 million.

      Lebedev did not disclose the price of the deal but mentioned that it totaled several billion.

      Earlier, Russia-IC reported that he was in negotiations with five major investment banks, both domestic and foreign.

      He said he was relieved after 10 years of being bullied and not allowed to take sensible decisions.

      Lebedev did not announce how he was going to spend the cash.

      Former KGB agent who turned into a banker and media mogul has repeatedly claimed he’s been under pressure from the authorities to sell off his business. One of the reasons, according to Lebedev, is his support for the Novaya Gazeta opposition paper.

      His bank was inspected by the Central Bank and searched by the law enforcement agencies, scaring away a large part of the client base.

      He was also embroiled in a criminal case when he punched millionaire and real estate developer Sergey Polonsky during a TV show. 

Author: Mikhail Vesely

Tags: Alexander Lebedev Aeroflot Novaya Gazeta   

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